Those who fail to file tax returns by August 31 will be fined Rs 5,000 until December 2019. Post which they will have to pay Rs 10,000 as penalty.
With only three days left to file your income tax returns (ITR) for FY 2018-19 and assessment year 2019-20, here are five websites to e-file your returns.
The official website
The official portal of the Income Tax Department under the Ministry of Finance is incometaxindiaefiling.gov.in. To access income tax-related services on the portal, navigate to the homepage and register yourself if you are e-filing you returns for the first time.
You will be asked to fill details such as PAN card, Aadhaar card, bank account details, Form 16 (if available), investment details etc.
ClearTax is a Bengaluru-based financial-technology platform where users can e-file their ITR, file GST returns. The website also provides Mutual Fund Investment services.
The process is simple and all a user needs to do is sign up on the website, upload the Form 16 (if available) or generating it on the portal.
At the end of the process, an acknowledgement number will be generated. The website has claimed that it takes 7 minutes to e-file ITR.
myITreturn is an authorised e-return intermediary registered with the Income Tax Department which was started in 2006. It is a subsidiary of Skorydov Systems Private Limited.
You can e-file ITR on salaries, investments, gains or income from other sources, like House Rent Allowance etc on the portal. These services are available in over 9 Indian languages apart from English.
Established in 2007, TaxSpanner is based out of New Delhi and Bengaluru. It has been registered with the Income Tax Department of the Government of India as an e-return intermediary.
The website provides the option to directly upload Form 16 on the portal or feed data to convert the information into ITR. The cost on the portal depends on the package taken ranging from self-filing to expert assistance.
Paisabazaar is a part of Policybazaar group. E-filing ITR on the portal is free and available in both Hindi and English. The homepage has elaborate details on e-filing ITR by individuals or a user can get expert guidance as well.
The portal also provides tax payers the option of claiming deductions if missed out earlier.
Apart from all the registered intermediaries, most banks have an e-filing option. Taxpayers can log on to internet banking for further details. Banks like HDFC and SBI have tied up with tax intermediaries where a taxpayer can access the service via net banking by choosing options like quick e-file ITR, upload return, tax calculator, e-pay tax and e-verify tax returns. ICICI Bank redirects a user to the official IT portal for similar services.
In case you have not filed your ITR for FY17-18 by August 31, 2019, you can be slapped with a fine of Rs 10,000.Those who file returns by December 31, 2019, will have to pay a fine of Rs 5,000. For returns filed after December 31, the penalty will be raised to Rs 10,000.You can now invest in mutual funds with moneycontrol. Download moneycontrol transact app. A dedicated app to explore, research and buy mutual funds.