By sinha on 7, July, 2008 | Channel: India Business

Online Tax Filing in India grows 504%

Few days back, Erasmic and Mumbai Angels funded FileMyReturns, an online tax filing company. BCCL (i.e. Bennett Coleman & Company Ltd. or Times of India group) recently funded TaxShax, an online income tax return filing company

Why is there a sudden interest in online tax filing portals? Lets look at some numbers:

Online Tax Filing in India

  • E-returns upto 31/03/2008 : 21.93 Lakh (up by 504 % from 06-07)
  • Corporate E-returns : 3.96 Lakh (up by 11 % from 06-07)
  • Voluntary E-returns : 14.42 Lakh (66 % of total E-returns)
  • Number of registered users : 24.0 Lakh (up by 612 % from 06-07)
  • Number of Corporate returns filed using free Return Preparation Software available on website: 1.66 Lakh (42 % of total Corporate E-returns filed)
  • Top states: Maharashtra, Delhi, Gujarat, West Bengal, Punjab and Karnataka.
  • Over 6 lakh returns(27%) have been filed beyond office hours. [source]

There are couple of players in this booming market, which is mostly driven by IT/Internet-savvy crowd.

What portal do you use for filing tax?

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    • comment(s) on Online Tax Filing in India grows 504%

    9 Responses to Online Tax Filing in India grows 504%

    1. Prateek says:
      July 7, 2008 at 7:10 PM

      So when you say online filing, do they help you generate a pdf and you print and submit or they also print and submit it for you.

      I think the real utility is when they do both. However from a couple of sites, I could not really figure out.

      Reply
    2. Ashish says:
      July 8, 2008 at 11:19 AM

      Ideally, they do both. But you rightly said, can’t figure out from the sites – bad usability!

      Reply

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    5. Ajay says:
      September 25, 2008 at 4:17 PM

      I filed through http://www.taxspanner.com They do both and they write it on their homepage

      Reply
    6. Magesh.Manoharan says:
      May 18, 2009 at 8:01 PM

      I used http://www.reachtax.com. Its absolutely superb. I saw them parked at sify and chose to give it a shot. No fusses. im happy.

      Reply
    7. Raj says:
      November 13, 2009 at 11:05 PM

      My experience with http://eLagaan.com was great. I was worried of using online tools as I didnt know much about income tax. Gave it a try just to see what they are. It was so easy that i kept moving on and could prepare my returns in minutes.

      Reply
    8. Utkarsh Shah says:
      January 10, 2010 at 9:28 AM

      I used TaxWala.com for filing my returns. Not only was their filing utility good one, they also helped me solve my tax related queries.

      Utkarsh

      Reply
    9. Utkarsh Shah says:
      January 10, 2010 at 9:29 AM

      Its http://www.taxwala.com – Did not get hyperlink in my previous comment..hence this.

      Reply