Any good free/cheap tax filing sites

Wondering if there are any legit free or cheap tax filing sites. Some of my family have been going to the local CAs who do a decent job, but they fill in their own email, phone number etc (except for when aadhar otp is used) and I want to move them away from that.

I get mine done at work, and can’t get family members filings done (in case anyone is wondering).

@Quicko

Hi @Jadax,

It is not an uncommon case, you can refer this article on Quicko’s Help Center to Recover access to your Income Tax Portal Account.

You can also visit Quicko for any related to taxes. We are on a mission to simplify taxes for all! :slight_smile:

Thanks @Quicko been checking it out, also nice you partnered up with zerodha :grinning:

Couple of quick questions, ITR filed through Quicko will still show up on my profile on the govt ITR website? I mean currently I can see my past returns on it, and I don’t want to split them up into different sites.

As for equity/debit fund redemption - above what number should I actually bother to declare in ITR (not large redemptions probably a couple of thousand Rs only, but I redeemed from a couple of funds that I didn’t believe in anymore and plan to reinvest that money into other funds).

Hi @Jadax,

Yes, you will see the details of ITR Filed through Quicko in your profile on IT Website. Since Quicko is an e-Return Indetermidery (ERI) registered with the IT Department.

For Equity/ Debit Fund redemption, for FY 2018-19, transaction wise details are not required. Only aggregate level data needs to be reported while filing ITR. So you can provide the aggregate data while filing ITR.

Hope this helps. We are on a mission to simplify taxes for all! :slightly_smiling_face:

You should be able to fill their own taxes as well as your family should make something on your side anyway. So thanks for that matter anyway. How else it should be possible? It’s the job they easily could do no matter what. Thanks for that!

Income tax and its regulations are very complex it takes years to master and file a return correctly, if a person has just Income from salaries its not that difficult to file for himself, lot of people do it with minor errors which will be rectfied by AO u/s 143. But if you have Income from capital gains or PGBP u better consult a CA.

@Quicko quick question, is there any option to change the AY on a profile - I want to pay advance tax since I will be travelling during the normal tax filing period and can’t seem to find any options for it DIY.

Hi @Jadax,

You can make a payment of Advance Tax before the end of the financial year. Here is our article on How to Pay Tax for reference.

But ITR filing utilities are published by the Income Tax Department in the month of April. Hence it is not possible to start preparation of ITR before the end of the financial year.

Hope this helps! For any further questions feel free to connect with us at Quicko, we’ll be happy to help!

Thank @Quicko will contact support for my ITR.

A couple of questions if you don’t mind -

  1. For pensioner having incomes (pension + savings interest + fd deposit interest) advance tax is not necessary correct?

  2. Pensioner cannot file 80TTA correct? 80TTB deduction for pensioner having interest income 10k + deposit interest 50k would be 50k correct? (amount to file would be 60k ofc)

Hi @Jadax,

  1. Advance tax is applicable if your total tax liability is more than INR. 10,000 for any financial year. It does not depend on income type.
  2. For Pensioners, 80TTB is applicable and the total amount allowed is INR 50,000.

Hope this helps!

Hi @Quicko , with the new optional tax scheme - will Quicko give us an option to check what our tax will be if we chose either scheme so that we can choose the better option?

Hi @Jadax,

Budget 2020 will be applicable for the Financial Year 2020-21/ Assessment Year 2021-22. And yes, Quicko will provide help in selecting a better option to a taxpayer.

@Quicko As a trader ,how can we file advance tax as I did not know how much I will be earning at the end of financial year

1 Like

Hi @rahulsingh,

Advance tax is applicable when your total tax liability for a year exceeds INR. 10,000. In the case of trader, take into account realized profit till the date and if the tax liability on such profit exceeds INR. 10,000 advance tax will be applicable.

Read More: Advance Tax Rules, Calculations and Due Dates

If advance tax is not paid by a taxpayer then he/she will end up with penal interest u/s 234B and 234C on trading profits. And if there is a loss at the yearend then he/she can always claim a refund of taxes paid.

Hope this helps!

@Quicko how much you charge as fees when audit is required while filing itr

@rahulsingh, you can get in touch with us on help@quicko.com.
You can also refer to this article for details on tax audit requirement changes post Budget2020. https://medium.com/quicko/no-more-tax-audit-for-business-trading-income-having-turnover-up-to-inr-5-cr-is-it-true-58f7981fd65a

Are the tax liabilities same if senior citizen sells property?

You can use https://cleartax.in/ Its free and easy to use.

@PR4575

Capital Gains arises when a property is sold by a taxpayer. The taxability depends on whether the asset is Long Term (more than 36 months) or Short Term (less than 36 months).

  1. Long Term Capital Gains: Taxable @20%.
  2. Short Term Capital Gains: Taxable @ Normal Slab Rates applicable to individuals. Here basic exemption limit is INR. 3,00,000 in case of senior citizen and INR. 2,50,000 in case of others.