What Are The Benefits Of Having Online Tax Filing Services?
Updated: Oct 28, 2022
All those whose taxable income exceeds the basic exemption level must file income tax returns. A fundamental exemption limit is a monetary sum set by the government to promote social fairness. Individuals whose taxable income is less than the threshold limit are exempt from paying income tax. If an individual's income exceeds the basic limit exemption level, the assessee must pay income tax and file income tax reports.
The tax payment and the return filing must be completed on or before the due date. Whether the assessee is a corporation or an individual, the due date differs. It also differs depending on whether or not the assessee is subject to a mandated tax audit. The procedure of submitting tax returns used to be manual, which made it inconvenient and prone to errors and clerical blunders.
The Income Tax Department has implemented an online tax filing services platform to create a tax system that makes income-tax assessment simple. The advantages of online tax filing services are discussed in this article.
Advantages Of E-Filing
Returning to the topic at hand, let's look at how e-filing compares to the conventional approach of manual filing. The following are some of the advantages of online tax filing services: