Fintech Clear starts charging ITR filing fees after 10 years of using the free service

Fintech company Clear (erst to Cleartax) has started charging for the self-filing income tax return (ITR) feature starting from the current assessment year. The company, which started in 2011 with self-filing ITR as the first product to offer, offered the device free of charge.

“This incredible product has been freely available to all our users for over 10 years. To continue supporting our users with this amazing product, starting May 2022, we will be charging our users a nominal fee that will help us sustainably process their data. millions of Indians while guaranteeing 0% downtime”, reads a note on Clear’s website.

Taxpayers will have to choose from three plans depending on the ITR form that applies to them.

People with income below 5 lakh and eligible for ITR-1 will pay Fee 199. Facility provides pre-filled data from Form 16 and the Income Tax Department website.

Individual taxpayers with below income 50,000 from salary, a house or other sources can fill ITR-1. The Hindu Undivided Family (HUF) cannot fill out ITR-1.

People who qualify for ITR-1 but have income 5 thousand or more will have to pay 399 to file an ITR through Clear. Those who qualify for ITR-4 must also choose this plan.

Individuals or HUF with below income 50,000 from salary, a home, other sources or a business but selected a presumptive income program must complete ITR-4. A business company, other than a Limited Liability Partnership (LLP), with revenue over 2 crore cannot fill ITR-4.

Those who qualify for ITR-2 and ITR-3 must pay a fee 799.

ITR-2 applies to taxpayers with income above 50,000 from salary, one or more home assets, other sources, foreign assets, interest from contributions 2,500,000 is made for the reserve fund and capital gains. Taxpayers who hold unlisted shares or/and are directors in a corporation must also choose ITR-2.

The relatively complex ITR-3 is for taxpayers with professional or business income, including income from an F&O transaction, along with any of the sources mentioned under ITR-2.

Companies that choose ITR-5 or ITR-6 pay the highest fee of 1,599.

The last day to file an ITR for individual taxpayers who are not subject to a tax audit is July 31.

Catch them all Business newsletter, Market News, Hot news Events and Latest news Update on Live Mint. Download Mint News app to get Daily Market Updates.

Less than

Register Mint Newsletter

* Enter a valid email

* Thank you for subscribing to our newsletter.

Source link


News5s: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button