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Don't know much on e-filing? Here are few guidelines

ClearTax help the tax filers understand clear the air about some common myths around e-filing

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Sanghamitra Kar
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BANGALORE, INDIA: ClearTax help the tax filers understand clear the air about some common myths around e-filing:

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‘E-filing is not mandatory’ – There is a significant number of returns which are being e-filed and gradually the Income Tax department is trying to adopt online as a medium for filing returns. Additionally, based on the latest guidelines from the Income Tax department, e-filing your return is mandatory in any of the following cases:

a) Your gross total income is more than INR 5,00,000

b) You want to claim an income tax refund (Those who are over 80 years old and are filing ITR-1 or ITR-2 can still file a paper return to claim a refund)

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c) ITR -3, 4, 5, 6, 7 have to be mandatorily e-filed

‘E-filing is complete when I have submitted my return online’ – Currently you are required to send a signed copy of your ITR-V to CPC, Bangalore failing which you may have to file your return again. The Income Tax Department is expected to eliminate this process for those who hold an Aadhaar card (further details awaited). Submitting your ITR-V is an important and critical step to the completion of the return filing process.

‘I can’t self e-file, I’ll need a CA’ – ClearTax takes the complex out of e-filing, you’ll sail through self e-filing! You’ll be filing up only the relevant sections applicable and your experience will be clutter free.

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ClearTax also allows you to upload your form 16; it can extract your TDS details directly from the Income Tax Department website. E-filing is free on ClearTax whereas your local CA will charge for filing even the simplest return.

‘E-filing is complex and I am worried I’ll make a mistake’ – The chances of making an error are almost negligible when you e-file. Your return is validated electronically and apparent mistakes are pointed out to you.

‘IT department will communicate with me with the email id I used for e-filing’ – In your ITR you have to specifically mention the email id where you want the department to correspond with you.

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