Wednesday, Oct 28, 2020 | Last Update : 08:12 PM IST

  18 Sep 2020  It is possible to save tax while filing I-T Return with TaxBuddy.com

It is possible to save tax while filing I-T Return with TaxBuddy.com

SPOTLIGHT
Published : Sep 18, 2020, 5:39 pm IST
Updated : Sep 18, 2020, 5:39 pm IST

Because of the Covid pandemic, the taxpayers are preferring online options to file their income tax returns

Salaried professionals and small businesses generally file their I-T returns based on the form 16, total sales figure and tax saving investments made by them.
 Salaried professionals and small businesses generally file their I-T returns based on the form 16, total sales figure and tax saving investments made by them.

Every year, salaried taxpayers and small business taxpayers and professionals need to file their income tax returns before 31st July.

This year this date is extended to 30/11/2020. Because of the Covid pandemic, the taxpayers are preferring online options to file their income tax returns. This makes filing of ITRs very easy from the comfort of their homes.

 

This option is increasingly being preferred by taxpayers since it avoids contact with third parties and keeps their financial information safe and within their reach through the click of a mouse.

Salaried professionals and small businesses generally file their I-T returns based on the form 16, total sales figure and tax saving investments made by them.

Therefore, the tax saving investments done consciously by you only count as your tax saving instruments. However, TaxBuddy.com says there are numerous investments and expenses in your routine life which qualify for tax saving.  

TaxBuddy.com has launched an initiative on Facebook on this issue for better awareness of taxpayers. Many such posts and articles are published on TaxBuddy.com’s Facebook page.

 

The founder of TaxBuddy.com, Sujit Bangar says, ‘in our daily life, we pay tuition fees of children, earn interest on savings accounts, do routine health check-ups, pay for education loans etc. all such expenses are tax deductible and must be claimed to save taxes’.

He further says, ‘we have observed that most of our clients claim deduction on home loan interest but forget to claim deduction on home loan principal, they also forget to claim additional deduction u/s 80EEA in case of home loan interest.’ He says that these are just representative samples and tax saving is possible in case of many routine expenses, investments, and incomes.

 

He claims that even if these deductions are not claimed in Form No. 16, these must not be forgotten to be claimed while filing I-T Return since you may get your excess tax paid as refunds.

He says they seriously work for saving tax for the clients while filing their I-T Returns. He claims that 94% of their clients saved tax while filing I-T Returns, minimum savings being less than ₹500/-and maximum being in tens of thousands.

Just filing an I-T Return is not important but filing it accurately is important. And filing an accurate I-T Return means you should not get notice from the Income tax Department. Mr. Bangar claims that 97.4% of TaxBuddy.com clients did not receive the income tax notice. He goes on to add, ‘for TaxBuddy.com, mere filing I-T Return is not important, we own the tax responsibilities of our clients.

 

These are from planning his taxes, saving his taxes, filing returns and also we take care of any notice received by him in respect of ITR filed through us.’ It is interesting to note that TaxBuddy.com doesn’t charge for different services unlike other portals.

‘Once taxpayer chooses TaxBuddy.com, his/her entire tax affairs are our responsibilities and hence delighted customers have showered TaxBuddy.com with generous praise in reviews on Google. We are happy that we are the highest rated tax service portal in India.’

There is one more distinct feature of TaxBuddy.com of which its users talk about, that is you need not pay before your work is done but pay only after your job is done satisfactorily.

 

‘We use Artificial Intelligence and Machine Learning to comb through thousands of tax saving rules and apply those on the data of the customer to produce the perfect combination of maximum tax saving and defect free returns.’

Mr Sujit Bangar says, ‘We simply do not rely on engines to file your I-T Returns, our experts talk to our individual customers and explain to them their tax issues and this confirmation is very important for a tax filer to feel confident about the correctness of her tax filings.’

Vist https://www.taxbuddy.com/ for more information

Disclaimer: No Asian Age journalist was involved in creating this content. The group also takes no responsibility for this content.

 

Tags: tax returns