Latest news with #ITR.Additionally
Time of India
02-08-2025
- Business
- Time of India
Online ITR filing charges across six tax filing websites compared for AY 2025-26
Academy Empower your mind, elevate your skills What are the types of plans most ITR filing websites offer? Self-filing: In this plan, you upload the documents and file the ITR yourself. You only get assistance with data handling and processing. In this plan, you upload the documents and file the ITR yourself. You only get assistance with data handling and processing. Assisted filing: You upload the documents and then a computer algorithm designed with inputs from a Chartered Accountant will help you file the ITR. You upload the documents and then a computer algorithm designed with inputs from a Chartered Accountant will help you file the ITR. Consulting with a Chartered Accountant for ITR filing: Here, the website's platform will set up a call or video call with their in-house CA/tax expert for a defined time, say 45 minutes. You can clear your doubts in this call and then file the ITR. ITR filing charges compared across multiple different websites Service Type TaxSpanner Tax Buddy Tax Expert Assisted Assisted Salary - Income Less than Rs 50 Lakh annually Rs 1,250 Rs 2,539 Rs 1,000 Rs 1,274 Rs 899 Rs 999 Tax Expert Assisted Assisted Salary - Income more than Rs 50 Lakh annually Rs 5,000 Rs 4,719 Rs 2,000 Rs 1,274 Rs 6,499 Rs 999 Tax Expert Assisted Assisted - Capital Gains Rs 4,500 Rs 4,719 Rs 4,000 Rs 4,249 Rs 3,149 Ras 2,999 Tax Expert Assisted - Professional/ Self Employed/ Consultants Rs 5,000 Rs 4,719 Rs 5,000 Rs 2,655 Rs 6,499 Rs 2,499 Tax Expert Assisted - NRI Rs 5,000 Rs 6,759 Rs 2,000 Rs 7,968 Rs 5,399 Rs 4,499 Tax Expert Assisted - Foreign Income Rs 7,500 Rs 6,759 Rs 6,000 Rs 10,624 Rs 5,399 Rs 7,499 Tax2Win has a plan starting from Rs 49 plus GST. In this plan you file the ITR yourself but use only the data extraction service of Tax2Win. You will not get the support of CA in this plan. Myitreturn has a plan starting from Rs 99 where you can file the ITR using their app, without any CA's assistance. Tax2Win Individuals who are not liable for income tax audit have to file income tax return (ITR) by September 15, 2025, for FY 2024-25 ( AY 2025-26 ). You can file the income tax return ITR ) yourself by logging into your account on the e-filing ITR portal or seek assistance from a Chartered Accountant to help you file the there are several third-party websites available that can assist you in filling up the ITR form and its schedules. In the end, all submitted and verified ITR forms are processed through the e-filing ITR portal, but the methods used to fill up the form may tax department's portal allows you to file your income tax return (ITR) for free, but if you require help from a chartered accountant (CA) or specialised third-party websites, there will be a fee you need more specialized help such as data extraction, tax planning, or other services, you will have to either hire a Chartered Accountant or use services from various websites like Clear, TaxBuddy, TaxManager, Tax2Win, etc., for which you may also have to pay a let's look at the different filing options and the costs associated with filing income tax returns on popular speaking, there can be three types of plans which most ITR filing websites offer:Source: Respective websites as of August 1, 2025Source: Tax2Win websiteSource:
India Today
28-05-2025
- Business
- India Today
Filing ITR late? You can earn 33% more interest on tax refunds this year
The Income Tax Department has extended the last date for filing Income Tax Returns (ITR) for the financial year 2024–25. Instead of the usual July 31 deadline, taxpayers now have time until September 15, 2025. While this comes as a relief for many, it also means that people expecting refunds may get more money, thanks to the interest paid by the tax THE REFUND AMOUNT MAY BE HIGHERIf you've paid more tax—through TDS, advance tax, or self-assessment—than your actual tax liability, you're eligible for a refund. Under Section 244A of the Income Tax Act, the IT Department pays 0.5% interest per month on any excess tax interest starts from April 1 of the assessment year and continues until your refund is issued. Since the ITR deadline has been pushed by 1.5 months, and if your refund is processed in October, you'll end up getting interest for two extra months. According to CA (Dr) Suresh Surana, 'With the ITR filing deadline for FY 2024-25 (AY 2025-26) now extended to 15 September 2025, taxpayers may see an increase in refund of about 33% in the interest amount received on their tax refunds provided the returns are filed by September 15, 2025 and the corresponding refunds are assumed to be processed in October 2025.'advertisementHe added, 'This is because Section 244A allows for simple interest at 0.5% per month (6% annually) on refunds. The additional 1.5 months between the usual deadline of July 31 and the revised deadline of September 15 increases the interest accrual period. If the refund is processed in October, the interest component alone could rise by about 33% (i.e. interest would accrue for an additional 2 months) compared to a typical year. If the processing is delayed beyond October, the interest may increase even further.'BUT REMEMBER - THIS EXTRA INTEREST IS TAXABLEIt's important to note that the interest you receive on your tax refund is taxable under 'Income from Other Sources' and must be reported in your from FY 2025–26, the revised Section 87A rebate ensures that salaried individuals earning up to Rs. 12.75 lakh and non-salaried individuals up to Rs. 12 lakh will have no tax liability under the new regime. This may help cushion the tax impact of the additional interest received,' noted DELAY FILING JUST TO EARN MORE INTERESTDespite the appeal of a bigger refund, experts warn against using the interest benefit as a reason to delay filing your return. 'While higher interest on refunds may appear attractive, it is still capped at 6% per annum,' said CA filing your return early means it's processed sooner, your refund arrives quicker, and you can put that money to better use Watch
