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Advantages And Disadvantages Of Filing Income Tax Return Online

Posted on October 01 2020



1.  Filing income tax returns online through Indian government website is free of cost.
2.   It provides you the help in the form of videos and instructions or calling up the number.
3.   No guidance is provided while filing the income tax returns nor post filing.
4.   One will always require the software to be installed on the computer for example Microsoft Excel for excel or proper version of Java to use Java service. 
5.   One is required to have basic knowledge about Excel.
6. The service provided by the Income Tax Department contains of sections, tax question, tax jargons. A person should know the tax laws, to fill up in the form. One contributes to fill up the information to the best of his/her knowledge. Therefore, the questions not being perceptive or simple, you can skip some questions having major impact on your tax calculation.
7.   Data of your Income. TDS etc endure on the computer where you have downloaded the service provided by the Income Tax Department. Confidentiality of your data depends upon the security measure that is taken by you.
8.  At times, due to heavy rush, the Income Tax Department e-filing server gets slow especially in between July 20-31 and resulting in delay in e-filing of the income tax returns.
If you are doing the e-filing yourself then you have to take the entire responsibility of what you have entered and submitted in your income tax return to the income tax department. So, later on you cannot say that you have calculated a certain deduction wrongly because of the mistake and you do not know IT provisions then in that case, you cannot expect any mercy from the Income Tax Department and they will slap a tremendous penalty treating as a cover of income. For example, A person did not know the difference between the FY and the AY, so he filed the income tax return for the wrong AY. He realised his mistake later and then filed the income tax return for the appropriate AY. As he did not send the ITR-V, he thought that he has corrected his mistake until he received a notice from the Income Tax Department. It doesn’t mean to scare any of you’ll but it is the fact that a silly mistake while filing your income tax return can lead you to get a notice for sure.
Tax Assist is a professional income tax consultancy in India for both corporate houses and individual tax payers; the latter comprising Salaried Individuals, Seafarers, Professionals and Non Resident Indians. 
With the help of Tax Assist and its team of income tax professionals, taxpayers can minimize their Income Tax liability, maximize their net income and create opportunities to save for current and future needs while maintaining proper accounting standards and income tax returns which are compliant with the Law.

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