Uttar Pradesh, India (PressExposure) June 08, 2009 -- The tax payers of India are getting attracted towards the electronic filing system, and with this the market is expecting that 10% of the total tax returns would be filed through the electronic medium.
According to the study, in the last fiscal only 3.62% or total 10.86 lakh returns were filed through the electronic technology.
However, some growth in the matter was seen in the filing of the year 2008-09 with the total 27 lakh e-filing returns.
The managing director and CEO of 3i Infotech Consumer Services Ltd, Ravi Jagannathan said that the concept of electronic filing was introduced in the year 2002 and became compulsory for the companies in the year 2005.
He also said that the e-filing process has come to a simple mode now which also allows the use of digital signature for filing the tax returns, which is a helpful initiative for saving the time.
Many of the companies are considering the e-filing as very important activity. Now the websites also helps the individuals in calculating the taxes and generating and filing the tax return.
He added that e-filing is having the potential to become a big business in the future as every individual is charged with Rs.200 to Rs.400 for the services.
Jagannathan also said that e-filing intermediaries market is large as the estimation says that in the year 2010-11 total 80 lakh returns would be filed through the electronic medium.