Due date for Filing Income tax return extended to 04-Aug-2010

CBDT in a recent press release has announced extension of due date for filing income tax returns. Now income tax returns filed upto 04-Aug-2010 shall be considered as filed within the due date.

So go ahead and prepare your tax returns if you have still not done so.

A recent press release attributed some snag in the efiling system and inclement weather conditions at many location as the reason for extension of date. More details at Income Tax Website.

eLagaan offers the most convenient and user friendly way to prepare your income tax return right from your desktop. So you need not travel anywhere in this inclement weather and file your tax returns from the comfort of your home. eLagaan has been rated # 1 in India by variety of TV Channels and Newspapers for 2nd successive year.

Suvarana News TV - Hassle free way of preparing income tax returns

Suvarna News 24x7 TV (a Star TV Channel - Kannada) finds during a recent review of our income tax return tool, that eLagaan is simple and easy to use, takes only 10-15 minutes for end to end process and is hassle free (no need to stand in queues, fill up long forms etc.)

Now you need not waste time, money and efforts to prepare your tax returns. Act smart and choose the right way of preparing income tax returns.

eLagaan has been Rated # 1 in India by variety of TV Channels, Newspapers and other medias for 2 successive years.

Kasthuri TV - Income Tax Returns made Easy at eLagaan.com

Kasthuri TV (one of the most popular channels in Karnataka) reviews our tax return preparation process and finds how easy it is now to prepare your tax returns at eLagaan. "It takes only few minutes to prepare your returns and is very convenient and user friendly". "eLagaan offers systematic process so that chances of any errors are eliminated". These are few of comments and reviews given by our users while discussing with Kasthuri TV team.

Now you donot need any tax expert to file your tax returns. You can do it completely on your own and proceed with eFiling (recommended) or manual filing, all right from your desktop/ home.

If you are still waiting for a tax expert to come and file your tax return, try eLagaan and discover on your own as to why eLagaan has been Rated # 1 in India for 2 years in succession.

Udaya TV talks about filing taxes in India - Interview with eLagaan team

Udaya TV (Top Kannada News Channel) talks about benefits of filing income tax returns with eLagaan.

In the small segment of video the eLagaan team talks about how for some tax payers July'31 may not be the last day to file income tax.



Udaya TV is a part of SUN TV Network.

OTV from Orissa talks about filing income tax returns with eLagaan

From the konark state Orissa OTV (Oriya) talks about various advantages of using eLagaan for preparing and filing your income tax returns in India.

They interview the happy customers of eLagaan who have already experienced the diffrence and are now recommending our services to other customers. Thanks Rohit for the good words and we look forward to continue to file your income tax returns for years to come and all for FREE !!

Here is the video:



And remember to have all your tax questions answered at the tax forum or just read our income tax faq.

News9 TV rates eLagaan as #1 to prepare your income tax return in India

News9 TV in its Namaskara Bengaluru calls eLagaan a "good news" because it allows you to file income tax return free of charge following simple and easy steps. Just by following these steps you are able to now prepare you ITR It highlights the point that you can do all that without the help of a Chartered Accountant.

News9 TV compares it with other website and credits eLagaan on being the first website which allows such a simple tax return preparation with so much ease (as compared to other solutions). They also talk about the various tax preparation packages whose details can be found at http://elagaan.com/taxninja .



And as always get solutions to all your tax problems at our income tax forums.

Who is the Highest tax payer in the Indian Cricket team ?

Well you are about to find out. Following slides from eLagaan team demystifies it all !!

So without further delay see who paid the highest taxes and who moved up in the list and when they moved up did they make money or loose money from the last year !!

To clue you in here are the names are in the list, but you have to put them in order !!

Yuvraj Singh, Mahendra Singh Dhoni, Rahul Dravid, Sachin Tendulkar, Virender Sehwag



And remember eLagaan can reduce your income tax by smart calculation of taxes, so start your tax preparation today for FREE.

Kasthuri TV - Prepare you IT Return with ease from home

Kashthuri TV (Kannada) recently rated us #1 (Top) place for preparing income tax returns in India.

Below is the clip from the segment which talks about eLagaan. In the segment Kasthuri TV discusses how eLagaan has made it possible for indian tax payers to prepare their tax return from the comfort of home. They also talk about how most people take the challenging and expensive route of looking for Chartered Accountants, which of course is not required while you prepare your returns using eLagaan.

In an interview our clarified that tax preparation with us is not only completely quick & secure but also FREE.

Kasthuri TV also clarified that usually it is very complicated to prepare tax return due to various complecated tax return forms, however at eLagaan a easy question answer format makes it very easy to prepare income tax returns.



We encourage you to give our tax preparation service a try for FREE at http://elagaan.com/taxninja

To see what other TV Channels are talking about us visit eLagaan YouTube Channel

Suvarna TV Rates eLagaan #1 place to Income Tax Filing in India

Suvarna TV (A Star TV Channel - Kannada) rates eLagaan as the #1 place to Prepare & File your Income Tax Online for India.

Below is a video to see a preview of the segment run by the Suvarna TV. The segment talks about the various packages offered by eLagaan, the user friendliness and how it can save tax payers a lot of headache all the convenience of your home.

It also stresses the fact that eLagaan offers this service completely FREE to huge amount of tax payers in India.

And yes it is true, we do provide FREE tax filing for almost 80% of the userbase. Check out http://elagaan.com/taxninja for details.



And as always submit your tax queries here, and look at all the Income Tax FAQ here.

Alltop from Guy Kawasaki features eLagaan as India Tax Expert

You must would have heard of the latest venture Alltop from Author, Blogger, Speaker, Entrepreneur , Venture Capitalist, Twitterholic & Mentor Guy Kawasaki or read his blog.

Well when it comes to finding the information, alltop is the place to be. And Alltop recently added eLagaan as the Only source for all the Tax Related News for India.

Thanks you Guy & Alltop and we will continue to be the #1 source for Information for Income Tax In India.


Visit Alltop India at: http://india.alltop.com

Here are some of the video's I love from Guy, enjoy:











And as always remember you can have all your tax queries answered at our tax forums.

TV9 Channel rates eLagaan #1 place to prepare taxes

On a recent TV report by TV9, the channel rated eLagaan as the #1 place to preparing your income tax return. As apparent from the video below (In Kannada), they compare it with other tax preparation service around the web and find eLagaan to be very convenient, secure and effective.



So what are you waiting for start preparing your tax return today !! Time is running out, and yes it is FREE.

As always use our Tax Forums for your tax queries.

Budget Implications analyzed (FY 2009 -10)

This year's union budget FY 2009-10 (AY10-11) did not bring many expected reliefs and cheers for the common taxpayers and has provided some marginal reliefs. Here is Team eLagaan's perspective of various income tax changes proposed in budget:

Basic Exemption Limit:

• * Rs.2.40lacs for Senior citizens (earlier Rs.2.25 lacs). This will provide a tax relief of about Rs.1545.
• * Rs.1.90lacs for Women/ Females (earlier Rs.1.80lacs). This will provide a tax relief of about Rs.1030.
• * Rs.1.60lacs for All other category of Individual tax payers (earlier Rs.1.50lacs). This will provide a tax relief of about Rs.1030.

Surcharge Scrapped:

• * Surcharge on Income tax has been scrapped. Individuals having taxable invomce over Rs.10 lacs will benefit more from this as their tax incidence at the highest slab has declined to 30.09% from 33.99% (savings of about 3.9%)

FBT Scrapped (Plus & Minus):

• * FBT has been scrapped for companies. This could result in tax on many employee benefit perks to be shifted to employees. The list of perks is yet to be released, but major perks affected could be ESOP (employee stock options) and contributions to super-annuation funds etc.

Deductions:

• * Deductions u/s 80DD in respect of maintenance, including medical treatment, of a dependent who is a person with severe disability has been increased to Rs.1 lac from the present limit of Rs.75,000
• * Deductions u/s 80E in respect of interest on loans taken for pursuing higher education in specified fields of study has been extended to cover all fields of study, including vocational studies, pursued after completion of schooling

Gift Income:

• * Non-cash gifts will be taxed. As per the new proposal, any non cash gift (e.g. property, shares and securities, jewellery, archeological collections, paintings and gold etc.) received from a non-relative where the value is in excess of Rs 50,000 in a particular year will be considered as income in the hands of the recipient. However, the proposal provides for some exclusion, which includes receipts on occasion of a marriage or by will or inheritance or from certain specified authorities (educational or medical institutions among others)

Other Important Highlights:

• * If you don’t have a permanent account number (PAN), your tax deducted at source (TDS) could be higher. The penal rate will be a minimum 20%.
• * Saral-2 is likely to re-introduced soon

eLagaan will keep a track on the developments of budget and keep all its users informed about the changes.

Please remember that these changes are applicable only for next year returns (current year's income). For this year returns none of these will apply.

But why to worry? eLagaan will keep track of all the changes and you need not worry or know about their applicability. Simply use eLagaan for preparing your tax returns and BE 100% SURE that all applicable laws and changes are updated in our system.

Income tax department confirms - UTN not a requirement for AY2009-10

We were the the first to break the news and now the Income Tax department confirmed (here) that UTN (Unique transaction numbers ) are not required.

So stay in peace and file your taxes withought having to wait for UTN number.

Here is the press release by the department:

No.402/92/2006-MC (14 of 2009)

Government of India / Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

***

New Delhi dated 30th June 2009

PRESS RELEASE

The Central Board of Direct Taxes have further decided that the Notification No.

31 of 2009 dated 25.3.2009 amending or substituting Rules 30, 31, 31A and 31AA of the
Income Tax Rules, 1962 shall be kept in abeyance for the time being.
Taxpayers filing their income tax returns for assessment year (AY) 2009-10, or
any other earlier AY, may continue to file their returns without mentioning the Unique
Transaction Number (UTN) as required under the said Notification. The filing of such
returns shall be treated as valid and in compliance to the requirements under section 139
of the Income Tax Act, 1961.
Further, the date from which the Notification No. 31 / 2009 shall become
applicable on tax deducted at source (TDS) or tax collected at source (TCS) and
deposited during the current financial year shall be notified by the Central Board of
Direct Taxes subsequently.
All deductors / collectors of TDS / TCS may continue to deposit their TDS / TCS
and file their quarterly TDS / TCS returns as per procedure existing prior to issuance of
Notification No.31 / 2009 dated 25.3.2009.

XXX

Whenever, Income tax department stops accepting tax returns without UTN, eLagaan will keep track and make necessary changes to our systems. So you don't have to worry or keep a track about changing tax laws (learn more)

Confused about changing tax laws? We are not

Are you worried about always changing Indian Income Tax laws ? Unable to keep up with the continuous tax law changed?

Well we are are not !! eLagaan works with a team of tax experts including Chartered Accountants (CA) , Tax Return Preparer (TRP) and Income Tax Officers who follow the changes and implement the changes back to the eLagaan's tax preparation system. So you can relax knowing the industries best tax experts are working for you around the clock.

So what do you have to do to keep up with the changing tax laws? Nothing, just use the simple to use tax return preparation tool and leave the rest to us, and yes preparing taxes for India is FREE & Guaranteed.

Well if you are still interested in the changes in the tax laws, we will keep you updated on it via our income tax blog & income tax news services.

And if you ever have any tax queries just fire away your questions at our income tax forums.

Income-tax filing date extended for Orissa

By eLagaan Team : The Central Board of Direct Taxes have extended the last date of filing of income tax returns and obtaining tax audit report under section 44AB of the Income Tax Act, 1961, due by 30th September 2008, to 31st October 2008 in the state of Orissa in view of the disruption caused due to floods in the state.

Renu Jauhri Director (ITA-II) said "On consideration of the reports of disruption caused due to floods inthe State of Orissa, the Central Board of Direct Taxes, in exercise of powersconferred under section 119 of the Income Tax Act, 1961, hereby extends thedue date for obtaining tax audit report under section 44AB of the Income TaxAct, 1961 as well as for filing of returns of income required to be furnished by30th September, 2008 to 31st October 2008, in the cases of income-taxassessees in the State of Orissa."

This should provide some relief to the tax filers in Orissa.