TaxSpanner is a website that offers online preparation and filing of individual

Taxspanner is a website that offers online

This preview shows page 16 - 20 out of 60 pages.

TaxSpanner is a website that offers online preparation and filing of individual Income Tax Returns (ITR). Established in 2007, TaxSpanner is based out of New Delhi and Bangalore. Since then, it has grown to build the customer base in this market segment. TaxSpanner has been registered with the Income Tax department of the Government of India as an e-return intermediary. SSL encryption is used to ensure that the information is highly secure. India Private Limited, a company duly registered under Companies Act, 1956, is a registered e-Return Intermediary with Income Tax Department, Ministry of Finance, and Government of India. As a result of this registration, is authorized to lodge tax return electronically to the Income Tax Department using web service provided by them. The company is a group company of eMudhra Consumer Services Ltd, a Licensed Certifying Authority under Ministry of Information & Technology, Government of India for issuing digital signatures.
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myITreturn is an authorized e-return intermediary registered with the Income-tax Department, Government of India. It was started in the year 2006 and is a subsidiary of Skorydov Systems Private Limited which is India's leading provider of software related to tax, compliance and office solutions. myITreturn has users from all over the country and many from outside India who prefer to use to file their tax return with ease. It is a project built on the idea to make the ever increasing tax filing headache a thing of the past. The website is very easy and intuitive to use. REASONS WHY INDIVIDUALS SHOULD PAY THEIR TAX 1) India needs our contribution to strengthen its defenses. 2) Government requires money to develop and maintain good infrastructure. 3) Money is required to tackle various social challenges. 4) Our contribution in the form of income tax helps the country in paying back loans. 5) Our nation requires monetary funds to handle local and national emergencies. Benefits of Income Tax e-filing We can get VISA stamped, loans sanctioned, claim income tax refunds, avoid paying penalties by e-filing in time and be a good citizen by paying taxes. Although e-filing is compulsory only for gross income above 2,50,000 INR, it is always an easier option to e-file taxes as it safer, more convenient and quick.
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Image 6. Benefits of Income Tax e-filing
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CHAPTER 2 “THEORETICAL BACKGROUND INCOME TAX IN INDIA The Central Government has been empowered by Entry 82oftheUnionListofScheduleVII of the Constitution of India to levy tax on all income other than agricultural income ( subject to Section10(1) . The Income Tax Law comprisesTheIncomeTaxAct1961,Income Tax Rules 1962, Notifications and Circulars issued by Central Board of Direct Taxes(CBDT), Annual Finance Acts and Judicial pronouncements by Supreme Court and High Courts.
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  • Fall '17
  • Mahvish ali

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