Business eFile standard
Efile Sugam or ITR4. For stocks/F&O traders, agents, consultants, professionals, and contractors.
Are you an Individual having income from business, trading in stocks/MFs/futures/options, commission as insurance agent, or professional consultancy? Or do you have income from tuition/coaching classes, shopkeepers doing retail business (gross receipts below Rs 60 lakh during the year), vehicle leasing (Max 10 vehicle)? If yes, then our Business eFile standard plan is just for you. Like all our eFile packages, it includes verification of ITR data with the data available with I-T department database.
Who’s it for?
Business eFile standard is a basic starter plan for Individuals other than employees who are interested in self-preparing and e-filing tax returns. With Business eFile standard you can file your ITR4 or SUGAM within 10 minutes through authorized e-return intermediary.
Who should not use it?
You should not use Business eFile standard if you have income from speculation business, or agriculture, or previous year loss to be adjusted. In such cases, we recommend you to select Business eFile plus and our experts will prepare the return for you.
How does it work?
It’s simple. You can enter income from any source including business or profession, whether it’s salary, house property i.e., rental income, capital gains i.e., profit/loss on sale of property/shares/jewellery etc., other sources like interest, dividend and income from business or profession. Depending on your sources of income, our system will automatically generate the correct ITR form for you.
Keep following documents/information with you while self preparing your ITR4
• Form 16 (salary certificate), if you have worked for any part of the year as an employee
• Form 16A (professional fee) for the period worked as professional or contractor and bank interest certificates
• Rent receipts, rent agreement and Form 16A if TDS has been deducted on rent
• Interest & principal certificate from bank, if you have taken any home loan for self occupied house
• Income from capital gain: details of shares sold during the year sale amount and date/cost of purchase (Demat statement from broker)
• Details of property or jewellery purchased or sold during the year
• Income from other sources
• Proof of tax deposited if any other than salary/professional fee certificate
• Copy of bank statement with details of payments to/receipts from – to determine whether the purpose of expense is business or professional
• Copy of PAN card and previous year ITR filed
• Copy of all the books of account, bank statements, bills for expenses incurred for performing the professional duties
• Copies of tax saving investments to be claimed
Business eFile plus
Business eFile standard in which a ‘real’ income tax practitioner reviews your IT e return and assists you with online accounts
Business eFile plus introduces the facility of a ‘real’ income tax practitioner to review your I-T return. This is an added feature along with all the benefits that Business eFile standard offers.
Who’s it for?
Business eFile plus is for those professionals and business people, who are not just interested in self-preparing and e-filing of tax returns, but who would also like the assistance of a tax professional to enter their data and review it for them.
How does it work?
While you retain the option to self-prepare your ITR, a ‘real’ tax professional will create your ITR based on the documents provided by you. To opt for this feature, you will have to mail the scanned copies of your documents to TaxSpanner. The photocopies of these documents can also be submitted at TaxSpanner helpdesks (Applicable only at select locations).
On receipt of the document, the assigned tax professional will get the data entry done for creation of the draft ITR. Once the ITR is ready, the tax professional would do a complete review the ITR for you so that you can eFile it without any doubt or hesitation!
You can have income from any sources, whether it’s salary, house property, capital gains or other sources, or income from business or profession. Then depending on your sources of income, our system will automatically generate the correct ITR form for you, whether it’s ITR4 or ITR4S (Sugam) or ITR1 or ITR2.
Package offerings
• Self-preparing and e-filing income tax returns
• Preparing income tax returns with the help of a tax professional
• Review of ITR by the assigned tax professional*
• Posting the review by the tax professional, (In this process, a checklist will be emailed to you along with your Draft ITR. Once you confirm this over an email, your return will be e-filed)*
• Tracking of ITR-V status
• Sending reminder notifications via email
• Depositing signed ITR-V to CPC (if drop-box facility is availed by your employer)
Business eFile premium
Business eFile plus with a TaxVault – secure online space to archive your tax and accounting documents
As stated in the Income Tax laws, you can receive a scrutiny notice from the I-T department till a period of 8 years from the time of filing your tax return. Apart from offering assistance in creation and review of Income Tax Return (ITR) by a ‘real’ tax professional, Business eFile Premium also offers a TaxVault where you can keep your tax related document safe.
Business eFile Premium has all the benefits of Business eFile standard and Business eFile plus. Another add-on feature of this package is tracking of your refunds and tax assessment order.
Who’s it for?
It is aimed at those individuals who would like to keep their tax documents safe in a vault for up to or more than 8 years, in case of scrutiny assessment, along with e-filing tax returns.
How does it work?
While you retain the option to self-prepare your ITR, a ‘real’ tax professional will create your ITR based on the documents provided by you. To opt for this feature, you will have to mail the scanned copies of your documents to TaxSpanner. The photocopies of these documents can also be submitted at TaxSpanner helpdesks (Applicable only at select locations).
On receipt of the document, the assigned tax professional will get the data entry done for creation of the draft ITR. Once the ITR is ready, the tax professional would do a complete review the ITR for you so that you can eFile it without any doubt or hesitation!
Apart from feeding in the data from your documents, the package also allows you to enter other details like income from any sources, income from house/property, capital gains, deductions, etc. Once you have created your ITR, the system automatically tabulates your tax liability, if any, and allows you to eFile your return through a single click!
Package offerings
• Self-preparing and e-filing tax returns
• An online vault to save your tax documents for scrutiny or reference
• Automatic tracking of refund
• Automatic tracking of income tax assessment order
• Tracking of ITR-V status
• Sending reminder notifications via email
• Depositing signed ITR-V to CPC (if drop-box facility is availed by your employer)