Online tax filing in India is on a rise and as we reported earlier, there was a sharp increase of 504% in 2007 and the total number have reached 7.3% (of the total numbers filed).
In 2008-09, over 27 lakh income-tax assesses filed their tax returns via web and the number is expected to reach 45 L by 2009-10.
What has bridged the gap is availability of digital signatures – earlier one had to physically submit the form, but with digital signatures, one can electronically furnish the return [source].
Market Opportunity
The market opportunity for up selling tax related service can be gauged from the fact that IT and ITES professionals aren’t so bothered about tax planning.
Data from a survey conducted among IT/ITES professionals:
- 70% of those surveyed did not have any medical insurance and about 18 per cent only had medical insurance cover provided by their employers
- 36% of the respondents did not have any kind of life insurance in Hyderabad.
- more than 60 per cent had not fully utilised the limit of Rs 1 lakh
- 11 per cent of the respondents in Hyderabad used only Provident Fund (PF) investments, among the various tax saving options available.
As per a research conducted by Google India, Online sales accounts for 18% of total financial products sales in India.
Connect the dots and you can sense the trend.
What’s your take on this industry?
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More people in our country are beset with problems concerning the constant changes in inheritance tax laws. Confusion as to what are really the rules and regulation with regards to inheritance tax
to file return online obtain class 2 digital signature from sai digital signature and tax services.
http://www.bangaloredigitalsignature.com
or call 9902977233