Simplifying Tax Compliance: A Guide to Online ITR Filing and IEC Application in India
The Indian government has been making a concerted effort to digitalize various processes to improve efficiency and reduce paperwork. Two examples of this are the online filing of income tax returns (ITR) and the online application for the Import Export Code (IEC). In this blog, we will discuss the advantages of using these digital platforms and how to go about it. Online ITR Filing: Filing of ITR is a yearly requirement for all Indian taxpayers. The process of ITR filing has been made easier with the introduction of online filing. Here are the steps involved in online ITR filling: Visit the Income Tax Department’s website and select the appropriate ITR form. Download the ITR form and fill in the details. Calculate your tax liability using the online tax calculator provided by the Income Tax Department. Upload the ITR form on the website and submit it. One of the advantages of online ITR filing is that it is a more efficient and streamlined process. It also reduces the ...