Finance

Know in Detail About the Process Related to Tax Refund Online

Tax Refund Online
Written by Amelia Varley

Tax refund online is a boon to the Taxpayer now a day. It has created a remarkably simple and hassle-free means to submit returns. Now you no more to hire a tax consultant paying fees to submit your returns or to visit the IT departments. It is now becoming the most popular option. Through online submission, you can enjoy online convenience plus the benefits of professional support and advice. Gone are those days when even pensioners would have to stay for long hours in queues to submit their taxes. Now you can simply refund tax through RTG or the paper cheque methods to enable an easy return to the taxpayers.

Tax Refund Online

Tax Refund Online

There has to be a clear idea about paying tax online

Taxpayers carry out filing of income tax return, but a majority of common people have no clear idea about the procedure of e-filing and how the IT return functions. You are eligible to get a refund in case of your excess payment of tax than taxable income. This he or she can do at the time of filing his or her income tax return for that year by 31st July. The financial year immediately following a financial year is the assessment year.

Procedure for income tax e-filling

A person is eligible to file return either by uploading the file or by providing filling up online forms ITR 1 or ITR 2. After filling the entire ITR form click the validate bottom on Taxes paid and verification sheet. The system provided with the website will calculate the refund payable to you. Simultaneously the refund amount will be presented in the “Refund row “. The refund amount payable to you will be credited to your Bank savings account in due course.

Visiting the website of the IT department is necessary in this regard

You have to visit the website of the IT department and to create a password for the purpose of log in the e-Tax submission pages.  For an online tax return, you must possess a PAN card and personal ID card which are compulsory for online Tax Return. On login, you will find the Traces related to your income and TDS i.e., Tax Deducted at Source that has already been sent by your bank.  You have to collect TDS information from your bank also to cross check the TDS amount.

Tax Refund Online

Tax Refund Online

The benefits of at Tax refund online

  • New Auto Tax Filing Enters up to 100% of the refund
  • Confidence: Your e-tax online tax return is checked twice by qualified expert accountants for accuracy and refund of extra deductions prior to lodgement.
  • No appointments are necessary, expert checking and advice involved
  • Smart Deduction Tips helps you remember all your claim
  • Mobile phone compatibility and friendly: Executes your tax return and exchange online messages all from you’re mobile
  • Do it, then forget it. Finish your online tax refund and return in a minute
  • Job specific deduction suggestions – Deductions relating to your job automatically hi-lighted
  • Attach documents and receipts to your tax return directly. No email is required
  • Bank level security encryption makes 100 % safety
  • Customer care section – Not sure where something goes but don’t have time to hang around? Just ask a clarification
  • Tax agent review of every tax return to make sure you’ve done it right – and claimed all the tax deductions you’re entitled to

There are many tax filing specialists and expert chartered accountants who are in high demand as they help service-holders, entrepreneurs and business professionals to pay tax online in a most hassle-free manner. However, to avoid penalties, you have to remember the last day of paying the tax online. In case of willful delays, if proved, there can be a higher rate of penalties.

About the author

Amelia Varley

I am Amelia Varley, a qualified blogger. Here you can see my skills which give you small ideas on understanding all the concepts with different themes. I love to write the blog on different topics, like Business, Finance etc.

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