Summary: Businesses and individuals often face hassle in filing their income tax. This is where income tax software comes into play. It simplifies the process of tax preparation and filing. It helps with automatic tax calculations, error checks, and electronic filing options that ease down the task for CAs and tax professionals. Let’s delve deeper into it.
To complete income tax (IT) payments on earnings, an individual needs to file an IT return (ITR). The document acts as proof that the due income tax is paid.
Filing taxes and tax returns at the end of every financial year can be a problematic and demanding task. Changing government regulations and laws make it even more challenging.
Fortunately, e-filing income taxes with income tax returns (ITR) filing software can ease this task and save your time. Manual efforts are reduced significantly, and chances of error are minimal. Moreover, you can view the records at any time in the software.
Income Tax software is a specialized tool designed to simplify and streamline the process of tax preparation and filing for individuals and businesses. It is tailored to help taxpayers accurately calculate their tax liabilities, deductions, credits, and refunds. This happens in compliance with the latest tax laws and regulations.
Income tax software streamlines complex tax procedures. It guides users through a series of questions and data entry fields to ensure all relevant financial information. The software offers features such as automatic calculations, error checks, electronic filing options along with the ability to generate tax forms.
Apart from that, by automating tax preparation tasks, helps taxpayers save time, reduce errors, and maximize their tax returns.
| Top Income Tax Software | Best Income Tax Software for |
| EasyOffice | CAs, tax consultants, and advocates across different sectors |
| ClearTax | CAs, tax practitioners, individuals including NRIs and NREs, & SMBs |
| Saral Tax | Chartered accountants, tax professionals, & small business owners |
| Winman GST | CAs, accounting professionals, tax professionals, and SMBs |
| EZTax | Individuals, CA, ICWA, TRP, CMA |
| TurboTax | Tax experts, CPAs, small business owners, and startups |
| TaxPoint | Tax professionals, accounting professionals, beginners |
| TaxSlayer | Tax professionals, individuals like contractors, 1099ers, freelancers |
| H&R Block | SMB, retired individuals, & students. Expert assistance from CPAs |
| TaxRaahi | CA, individuals, companies, tax and accounting professionals |
| TaxCloudIndia | CA, tax professionals like tax consultants, tax return preparers, & lawyers |
| TaxAct | simple filers or those unemployed, dependent, or retired |
| Gen Income Tax Software | CAs, tax professionals, legal/ law firms |
| Chartered Club | Individuals |
| LegalRaasta | Lawyers, SMBs, CAs, start-ups, CS, and accounting professionals |
| CompuTax | SMBs, tax professionals, administration, CAs & finance managers |
There are numerous free and paid IT filing software available in the market for Chartered Accountants (CA) and tax professionals. Some of the best free ITR filing software options are:
EasyOffice taxation software includes modules for IT returns, audit, CMA, e-TDS, and so on. It has been developed as per the IT Department of India, NSDL, and TRACE requirements.
You can get a summary of online income tax computation as well as the previous year’s income tax. It is possible to make direct e-payments and file e-returns via the software. PAN/TAN of users can be verified online. Office management utilities help in saving time.
Free Trial: Not a Free ITR software, but a free trial available
Pricing: Pricing starts at INR 2900 for the EasyOffice Light combo package that supports 100 users.
ClearTax income tax software enables users to upload Form 16, and ITR gets prepared automatically. You can add income sources, and deductions and change details at the time of preview. It’s web-based and allows you to file income tax from anywhere, anytime via an internet connection.
The software provides step-by-step guidance on ITR filing. You also get suggestions for tax savings. Further, also download the report to have complete transparency on tax computations.
Free Trial: You can try it as a free income tax filing software by creating an account.
ClearTax Pricing: The pricing for individuals starts at INR 799 and 2999 for business users. However, the ClearTax Android app can be downloaded for free. In addition, a free ITR filing option is available for women, senior citizens, and Indian Defense personnel.
Saral Tax software is a tax filing and office automation suite that automates ITR related processes like computation and return preparation. For example, you can view the summary of entered data without scrolling.
This ITR filing software has an in-built module that helps tax professionals manage multiple clients’ data. You can also handle non-client contacts and tasks in the same window. As a result, it is easy to manage billing and receipts, documents, and more.
Free Trial: You can request a demo or get a free trial of the latest software version.
Saral Income Tax Software Price: Saral income tax software pricing starts at ₹5,500, and Saral Tax Office pricing starts at ₹8,800 for a single user.
Winman GST suite consists of IT software, audit report software, balance sheet software, etc. The software focuses on income tax preparation and tax filing procedures.
It also helps with the generation of GST Returns as per the regulations of the Indian IT department. So, for example, you can generate GSTR-3B, CMP-8, GSTR-1 and get annual returns in GSTR-9, GSTR-9A, GSTR-9C, and GSTR-4.
Free Trial: 30 Days
Winman GST Software Price: Winman GST price available on request at techjockey.com.
Suggested Read: How to file GSTR 1 using Tally
EZTax free ITR filing software helps with income tax e-filing, TDS preparation, GST accounting, among other services. It enables users to e-file ITR on their own online.
They can also ask for expert assistance at any stage of ITR e-Filing. For CAs and other tax practitioners, this income tax filing software provides the option of bulk e-filing.
EZTax income tax return filing software can create a complex what-if scenario in real-time to display the current refund and possible refund after saving recommendations.
Free Trial: NA
Pricing: Online self-service with this free income tax filing software is available for free. Expert-assisted filing starts at INR 599.
TurboTax ITR filing software free allows users to file their taxes based on their answers to the questionnaire. It imports all the data from W-2 into relevant forms. If you are a US nonresident living in the US, you can still use it.
You can also get the help of a live or dedicated expert. Based on your documents, you get matched with the tax expert suitable for you. Experts can answer any queries and explain everything about a return. Of course, they can file your returns too.
Free Trial: NA
TurboTax Price: You can start it as a free income tax return filing software and pay only when you file your taxes. Tax calculators are available for free.
TaxPoint offers its customers a wide range of services, including assistance on taxation matters, business advisory, and financial advisory. This Indian income tax computation software auto-populates the necessary data into the fields when you file returns.
Once you file your taxes with TaxPoint ITR software, you can directly transfer all necessary information for next year’s returns. Contracts and other legal data can also be reviewed for tax considerations.
Free Trial: NA
Pricing: It’s a free income tax filing software
TaxSlayer ensures that taxpayers can maximize the refund as per their income. You can check for errors and missing data before e-filing. After the return is submitted, users get notified once the IRS portal accepts tax returns.
Calculations of the software are always up to date. In addition, integrated bank products help in deducting tax prep fees from refunds so that clients get paid faster.
Free Trial: NA
Pricing: It is a free income tax return software for simple tax filing (taxable income is low) and includes free state and federal returns. It is also free for military members with an active military EIN.
H&R Block simplifies e-filing tax returns by providing customized tax prep options. It offers questions to help users file their taxes. In addition, you can store returns, receipts, donations, and other tax documents for easy access. You can also file form 1040 and Schedules 1-6.
You can import federal filing data for state taxes calculation. In addition, it can help file local taxes in the US, Canada, Australia, India, Puerto Rico, and Guam report.
Free Trial: NA
Pricing: This is a free income tax return filing software for online tax filing. Professional services are paid.
TaxRaahi is a user-friendly taxation software for ITR, TDS, and GST filing. It does not require digital signature certificates (DSC) and tax filing is quite fast.
To ensure correct taxes and deductions, you can calculate income from salary, house property, capital gain, PGBP, and other sources. TaxRaahi ITR follows IT department guidelines to prepare and file returns in ITR 1, ITR 2, ITR 3, ITR 4, and ITR 4S.
Free Trial: NA
Pricing: With this free income tax return software, you can easily file ITR. For expert assistance, pricing starts at INR 471 for a basic package.
TaxCloud India tax solution automates different tasks during tax filing to save manual efforts. It supports all forms from ITR 1 to ITR 6 and various income sources like salary, property sale, and more.
You can be up to date with the latest tax regulations. In addition, tax professionals can use parallel login so that team members can work on the same client simultaneously.
TaxCloudIndia Income Tax Features:
Free Trial: 30 days
Pricing: The software is available for a 30-day trial as free Indian income tax computation software.
Suggested Read: TaxBuddy vs ClearTax: Detailed Comparison of Income Tax Software
TaxAct income tax software supports different types of income status, including retirement, W-2, child tax credits, EIC, and more. Expenses of dependents and full-time students are also covered. You can file the 1040 form and state return as well.
More expenses and income options are covered in paid options. You also get a notification when IRS & state are done with the processing of your returns.
Free Trial: NA
Pricing: Free ITR software is available for simple filers or those unemployed, dependent, or retired. You can file complex returns and get help with its paid versions.
Gen Income Tax Software enables e-filing to upload returns directly. You can compute income tax, advance tax, self-assessment tax, and interest. Gen IT includes a wide range of provisions like chapter VIA deductions, setoff losses, arrears, and so on.
You can e-file ITR Forms 1,2,3,4,5,6 and 7. Losses, KVP, and NSC data is automatically carried to the next year from the previous year.
Free Trial: It is a free Indian income tax computation software.
Pricing: Software pricing is INR 5900 per year at Techjockey. For more details, please contact our sales team.
Chartered Club by CA Karan Batra is a platform for users to book an appointment and consult for ITR filing. You can discuss your case both remotely and in person.
Once you share the necessary documents, you receive the draft computation of your tax liability. The focus is on reducing your tax liability. If you approve it, your ITR will be filed. TDS certificate facility for NRIs is also available.
Free Trial: NA
Pricing: You can get 30 percent off on your first tax consultation appointment. Chartered Club ITR filing service costs INR 9700, of which only 20% needs to be paid in advance.
LegalRaasta tax preparation software offers simplified solutions for handling issues related to legal compliance. The software is an e-filing intermediary to be found on the income tax department’s catalogue.
The tax software ensures accurate calculations for e-filing the returns and verifying the data. LegalRaasta is TDS and GST compliant for managing the goods and services tax for individuals and businesses.
Free Trial: NA
LegalRaasta Pricing: ₹ 668 is the yearly subscription cost of accessing LegalRaasta. More details are available on request.
CompuTax is the ideal software for filing computerized tax returns as well as automating tax-related tasks. The software provides different types of DSC (digital signature certificates). CompuTax online also supports auto-download for ITR 5 along with a locator for identifying errors in e-returns.
Free Trial: NA
CompuTax Pricing: Price details are available with the vendor on request.
Here is a detailed comparison table for multiple tax preparation software like ClearTax, TaxAct India, Quicko, Zoho Books, and more in terms of electronic filing, error checking, importing, security measures, and more.
| Income Tax Software | User-Friendly Interface | Guidance & Support | Importing Capabilities | Security Measures | Error Checking | Electronic Filing | Reviews & Recommendations |
| TaxAct India | Yes | Yes | Yes | Yes | Yes | Yes | Highly recommended |
| ClearTax | Yes | Yes | Yes | Yes | Yes | Yes | Excellent user reviews |
| H&R Block India | Yes | Yes | Yes | Yes | Yes | Yes | Trusted and efficient |
| Quicko | Yes | No | Yes | Yes | Yes | Yes | Positive user experiences |
| Zoho Books | Yes | Yes | No | Yes | Yes | Yes | Highly recommended |
| TaxSpanner | Somewhat | Yes | Yes | Yes | Yes | Yes | Reliable and user-friendly |
| Gen Income Tax | Yes | Yes | Yes | Yes | Yes | Yes | Efficient and cost-effective |
| E-File Income Tax | Mild | Yes | Yes | Yes | Yes | Yes | Positive user feedback |
| Jpat Returns | Yes | No | No | Yes | Yes | Yes | Easy to use |
| QuickITR | Yes | Yes | Yes | Yes | Yes | Yes | Highly recommended |
When it comes to managing and filing your income taxes, using free income tax software can be a cost-effective choice.
Some of the key features that you will find in any free income tax software include electronic filing, guided questionnaires, security measures, mobile accessibility, and more. Let’s read about them in detail.
Free income tax software offers a comprehensive array of features designed to simplify the tax preparation process, maximize deductions, and ensure accuracy when filing tax returns.
Income tax software is a valuable tool for individuals and businesses that offer a range of benefits. The key entities who leverage software include individual taxpayers, freelancers, self-employed individuals, property owners, SMB owners, investors, and more.
Income tax software caters to a diverse range of individuals and businesses with varying tax situations. Whether it’s simplifying the tax preparation process for individuals or offering specialized features for businesses and tax professionals, tax preparation software helps manage all tax obligations.
Selecting the best income tax software online is important for managing your tax filing process. One should consider the following factors to make an informed decision while choosing the best software for filing the income tax:
By considering these factors, you can make an informed decision when choosing the best income tax software online.
ITR form is essentially a tax form used to file income tax with the Income Tax Department. Taxpayers file all information about their income and applicable taxes in the ITR form. For now, the income tax department has notified seven ITR forms mainly ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6 and ITR 7.
The law requires all taxpayers to file income tax returns annually. ITR is filed against the income businesses or individuals generate during a given assessment year through all sources such as regular income, dividends, interest, capital gains, etc. Taxpayers must file their returns within the specified date, which is July, 31 for this year.
In case the tax return shows that a taxpayer has paid excess tax during a given year, the taxpayer/assesses is eligible for a tax refund based on the department’s calculations.
The taxpayer’s sources and amount of income along with his/her income category (individual, business, etc.) decide which ITR form they are eligible to fill.
A significant step towards filing income tax return is to identify the tax return form that is applicable for an individual taxpayer, as below:
# ITR-1 (SAHAJ)
# ITR-2
Individuals who do not have income from profits and gains of business or profession (who cannot use ITR-1) can use ITR-2.
# ITR-3
This is apt for individuals who have an income from profits and gains of profession or business.
# ITR-4(SUGAM)
Conclusion
Selection of software should be made on work requirement. If an unpaid software has the features you need, consider choosing that. Get trained on all features of the software you choose if you want its best use. It will prevent bad outcomes.
Above all, the ITR forms for the assessment year 2021-2022 have been revised. It is a mandate for everyone to understand the new form requirements before filing their income tax return. Be very careful while filling your forms to avoid any complications or legal implications.
Income Tax Return (ITR) Filing the last date is September 30, 2021.
In the financial year 2021, you must pay 15% of tax liability by 15th June every year, 45% by 15th September, 75% by 15th December, and 100% on or before 15th March.
In FY 2021-22, a common offline utility for filing income-tax returns ITR 1, ITR 2, ITR 3, and ITR 4 is available. In addition, a common offline utility for filing Income-tax returns ITR 5, ITR 6, and ITR 7 for the FY 2021-22 will be available soon.
The best software for filing income tax returns depends on individual preferences and specific tax situations. Some popular options include TurboTax, H&R Block, TaxAct, and TaxSlayer. Each of them offers unique features and user experiences to cater to the specific needs of taxpayers.
The most popular software used for filing taxes includes TaxSlayer, H&R Block, TurboTax, TaxAct, and more. These platforms offer user-friendly interfaces, accurate calculations, and comprehensive support. These make them go-to choices for individuals and businesses seeking ideal tax filing solutions.
Choosing the best app for doing income taxes depends on individual needs, but popular options like TurboTax, H&R Block, and TaxAct are known for their user-friendly interfaces, accuracy, and robust features. They simplify the tax filing process for individuals as well as businesses. These apps offer convenience, guidance, and timely updates to ensure a smooth tax filing experience.
The best tax system to use depends on various factors such as individual tax situations, preferences, and specific needs. Popular choices include TurboTax, H&R Block, TaxAct, etc. It's important to consider ease of use, accuracy, and customer support when selecting the most suitable tax system.
ITR software refers to software designed to facilitate the preparation and filing of Income Tax Returns (ITR) in compliance with tax laws and regulations. These specialized applications streamline the tax filing process for individuals and businesses with features such as automated calculations, error checks, and electronic filing options. These features ensure accurate and efficient tax return submissions.
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