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E-Filing Tax Returns
By: Biztech2 Staff  |  Apr 12,2008
Close on the heels of the Income Tax Department allowing Digital signing of Form 16, Skorydov Systems Pvt Ltd a software solutions provider has launched www.myitreturn.com for e-filing of tax returns. A first of its kind initiative in India, the website is designed to provide easy and quick web based solutions for filing Income-tax returns and facilitates generation and digital signing of Form 16, claimed the company release.

Skorydov has introduced a software for Digital Signing of Form 16. The company’s official release mentioned that a week post the launch, Myitreturn.com already has corporate clients like, Wipro, Reliance Energy Limited, ICICI Bank Limited, Transworks and others. Currently Skorydov has a mandate to file tax returns for over 5 lakh employees from various corporates and individuals who are using the software solution to help their employees file their IT returns.

Saakar Suresh Yadav, Founder & Managing Director, Skorydov Systems Pvt Ltd, states, "Skorydov has always been at the forefront in offering innovative solutions and products in the tax compliance or processes space. Our core strength lies in introducing technologically superior yet easy to use web based solutions to simplify the tax filing process for both individual and corporate users. The Income-tax Department has set a bench mark for other departments in the Government to follow the e-filing path."
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* E-filing is essentially another mode of filing your income tax return, in addition to the popular mode of printing and submitting your return at the income tax counters. It is a two step process:
a. Prepare your return using tax preparation software: Enter your income tax data, such as, PAN, income, deductions, and TDS. Review your data for completeness and accuracy; and, generate your electronic return in XML format.
b. Upload your XML format return on income tax department website. Upon successful uploading, it will generate an acknowledgement form called ITR-V. If you do not use digital signatures, then you have to submit the ITR-V at the income tax counter.
Tax Spanner @ Apr 22,2008
Really good initiative? and good website
vitthal @ Apr 14,2008
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