What Are The Benefits of E-Filing Tax Returns?

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These days we look for an online option in everything that we do. If you are filing your income tax returns offline, e-file your Income Tax Returns is a good option. In fact, if your income is over Rs 5 lakhs, you have to e-file returns.
There are several benefits of e-filing your income tax return:

Fast Processing

You do not have to stand in a line to submit your income tax returns. You can e-file at any time of the day or night. The acknowledgment of ITR submission also comes fast, and the refunds are processed faster by the Income tax department for E-Filed Income tax returns.

Accurate

E-Filing software has built-in validations and send data to the Income Department website electronically through a seamless mode and help minimize errors. Manual calculation of income tax returns can be prone to error.

Confidentiality

When you prepare and e-file your income tax return through a web-based solution, your information is totally secured and is not available to any other person or entity. Filing e-returns keeps the confidentiality of your information.

Access

If you want to access and use your data anytime, go for e-filing. Paid E-filing software applications mostly store your data in a secure manner and allow you to access it whenever you want to.

Visa

Filing return can also help you for getting a visa. If you are flying abroad, your return document serves as a proof for your financial soundness.

Disclaimer

Since you are not using papers in e-filing, the entire process of e-filing is environment friendly. Online filing of tax returns comes with its set of benefits like convenience, accuracy, faster processing, and time-saving. Excluding this, there are various advantages like increasing credit worthiness, getting refunds faster and contributing to nation building by paying taxes as a responsible citizen.

Goodreturns.in 

Read more about: efiling, tax returns
Story first published: Saturday, May 27, 2017, 11:24 [IST]
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