It is now mandatory for individuals or Hindu Undivided Family (HUF) with income of over Rs 10 lakhs to file their tax returns for 2011-12 electronically.
This is good news for lot of websites which help people for e-filing of Tax returns. Also e-filing has a lot of advantages than traditional way of filing returns by paper.
Returns are processed much faster: The entire processing of filing returns and processing of refunds is reduced. You can expect returns with in 1 -2 months.
Accurate: You fill the fields yourself, so the chances of clerical error is reduced. Also built in validations and automatic calculations further reduces chances of error.
Fill it Anytime, Anywhere: You can file your income tax returns at your convenience anytime and anywhere. You just need a computer and Internet connection and your are ready to go.
Privacy is Protected: You need not share your income details with any other person or your CA. So your privacy is protected.
Easy access to all your previous returns: In case you file returns electronically all the data is securely stored on the web which you can access in a click of button. The previous returns at times have valuable information that you would need to use in present year returns.
Environment friendly: You save paper which helps environment.