Income Tax e-filing grows seven times this fiscal

Income Tax e-filing grows seven times this fiscal

New Delhi: In an indication of the growing tech-savvy taxpayers opting for e-payment for filing tax returns, the Income Tax department has registered a seven-fold increase in the number of people using the paperless facility since last year.

While 8.85% tax payers filed their returns through the electronic payment facility this year, it was only 1.16% last year.

The facility is also secured against possible data loss.

The number of e-returns also grew by 12 times as 12.49 lakh taxpayers chose the electronic medium to pay their taxes as compared to a mere 1.46 lakh taxpayers during last year.

Maharashtra topped the list of e-returns with 278,112 returns while Delhi contributed 153,992 and Karnataka with 144,287. Tamil Nadu registered 118,354 e-returns and 115,798 filed e-returns in Gujarat till 31 July this year.

The tally comprises both voluntary returns (individuals and non-corporate) and mandatory returns (corporates & large firms).

Transmission of data through this facility is processed through a fully encrypted website and has a Secure Socket Layer (SSL) authentication.

The servers of the department received 31,740 returns per hour at peak rate, utilising a peak bandwidth of 53 mbps of the internet to recieve the same data.

The e-returns are filed in a one-page ITR-V form which also bears acknowledgement and verification details along with the PAN number of the taxpayer, an official said.

Through the e-return facility, payments can be made electronically through the internet with the help of credit or debit cards. The e-payment scheme is mandatory for all corporate assessees, and to those non-corporate assesses to whom provisions of section 44AB of the Income Tax Act apply.