You can easily calculate and file income tax return using income tax software. You only need to pick the right software as per your requirements.
You can save a few thousand bucks every year by filing your ITR yourself. You can find many softwares, whether standalone or online, to file your income tax return in a few mins.
Before starting your ITR filing process, keep scanned copies of following documents –
- PAN card
- Aadhar card
- Bank account details
- Form 16
- Details of investments/Capital gains
Here is the list of top income tax software in India
- Gen IT Software
Best Income Tax Software In India 2020
#1. Cleartax Income Tax E-filing Software
Founded in 2011, ClearTax became the no. 1 platform in 2018 with more than 21 lakh customers in India.
You can fill ITR free of cost by signing up at Cleartax. Login to your cleartax account and click on the ‘upload Form16 pdf, if you are a salaried person.
Enter your personal details such as name and father’s name. Make sure you have entered the same details as provided on your PAN card.
Then you have to fill your salary details, bank account details and proceed to e-filing.
If you are an entrepreneur, you have to go for the ‘No form-16 pdf’ option as given below.
You have to follow the same steps except, you have to enter your income details on Step-E under the income section.
If you need any assistance in filing ITR, then you can choose any paid plan as per your requirements. They offer 3 plans to assist in ITR E-filing.
Advantages of Cleartax
- Simple Interface – Clear tax has a simplistic interface that allows you to file your ITR electronically without any hassle.
- Paid Assistance – You can choose a paid plan to get expert advice at any time if you find it difficult to fill your ITR.
- Tax Saving Investment – You can get immediate investment advice on tax saving instruments like ELSS funds to save some money. You also get an instant receipt of investment that you can upload as tax-saving proof.
- You can also fill ITR using mobile app
Disadvantages of Cleartax
- Basic assistance plan doesn’t cover all the aspects of ITR
Best for – Individual person who wants to file ITR himself.
#2. TaxRaahi Income Tax Return Software
TaxRaahi ITR software is a cloud-based deployment software that helps you calculate your income tax and file it automatically by filing basic information and Form-16.
Once you fill your investment and expense details, software calculates the deductions itself on the basis of limits prescribed every year in the budget.
You have to sign up for a required plan to get the ITR, you might be disappointed as there’s no free option to fill the ITR.
You can create a single user id for multiple accounts like personal, spouse, or partnership if you have to manage all such accounts yourself.
TaxRaahi ITR software comes in different plans to serve different needs.
Advantages of TaxRaahi income tax software
- Previous year ITR import – You can easily import previous year data like previous year ITR or Form 16 & 26AS current year and update the required fields with changed values like salary income.
- Easy ITR filing – You just need to upload Form-16 and auto-import tax paid values (26AS).
- Minimum error filing – TaxRaahi auto-detects the ITR to be filed (ITR1, 2, 3, or 4) and auto-calculates all taxes & deductions to eliminate the chances of errors.
- Direct Submission – You can effortlessly submit ITR in less than 2 mins to the IT Department online. It doesn’t require a DSC (Digital Signature) to use the software that makes it easy to use.
Disadvantages of TaxRaahi
- No free plan available
- App not available for iPhones
Best for – an individual who fills multiple ITRs of family members or clients.
#3. Tax2win E-Filing Software
When it comes to simplicity and ease of filing tax returns, Tax2win’s e-filing service stands apart. You just need to answer some easy questions and you will be able to fill the ITR yourself.
The process starts with entering your personal information.
Then upload the Form-16 pdf and you’re done.
If you are an NRI, you will get a separate segment to plan tax and file ITR.
You can also avail of other tax-related services like TDS, tax planning or expert advice under one roof.
They have 6 different plans to meet all types of requirements.
Advantages of Tax2win
- Simple interface – Tax department and similar websites use complicated languages that a common man can’t understand without any guidance. But on the Tax2win portal, you can easily file your income tax return even if you don’t know much about taxes.
- Free e-filing – If you don’t need any assistance, you can file your ITR free of cost.
- Multiple services – You have multiple options to choose from like standard filing, business income or capital gain to save taxes as much as possible
Disadvantages of Tax2win
- No app to file ITR from mobile as other rivals provide
- You can’t fill ITR yourself if you select capital gains option, you will get the message to pay for the service
Best for – If you are a newbie, you will find it easy to answer some questions and get the ITR filed.
Best Income Tax Computation Software In India
#4. Gen IT Income Tax Return E-Filing Software
Gen Income Tax software is a superb tax computation software that automatically calculates income, self-assessment, advance tax, and interest calculation u/s 234A,234B,234C once you enter the income and expenditure details.
When you click on the income tax option, you will get all the details as below;
You can even import data from Tally or Busy accounting software and it will compile the income tax details of multiple clients and you can even file ITR through the software.
If you need a software package that you need for income tax computation with some in-depth features like arrear relief calculation, income deduction, depreciation chart or reverse tax calculation, then you must go for Gen IT software.
Advantages of Gen IT software
- Complete Package – Gen IT detects the type of income itself and then creates the ITR form as per the income category. Gen IT also creates e-challans, carry forward current details to next year assessment, adjust losses and many more.
You won’t find any software that will dig so deep to cover everything related to income tax return filing and even more.
- Direct e-filing – You need not export files and then separately upload on the income tax department website. You can directly file your ITR through the software.
- Proactive customer support – SAG Infotech provides best customer service in the segment. You can contact them over email or phone, they will try to resolve your query at earliest.
Disadvantages of Gen IT software
- Outdated user interface
- A little complex to understand its working
Best for – Companies or accounting professionals who also fill ITR of their clients, not ideal for individuals
#5. MyITReturn Income Tax Software
MyITReturn is an ideal choice for you if you want to start tax planning to save money on taxes. You can easily sign up with MyITReturn and select “Tax Planning”.
Once you complete the signup process, you get a call from MyITReturn for expert assistance in tax planning.
Not only planning, if you have got a notice from the Income Tax department for any reason, but they will also guide you to resolve that issue.
They have around 6 different plans to cover different customer needs. You can have a look –
Advantages of MyITReturn
- Tax Planning – MyITReturn helps you in tax planning to save money on taxes with appropriate advice from CA.
- Reasonable Price – You will get very reasonable and cheap prices if you need assistance in ITR filing.
Even if you are in the elite category with annual income around 10 lakh, you just have to pay Rs.599 to get your taxes filed which is quite nominal.
- Notice Reply – You get expert advice to create a genuine and effective reply in case you get any notice from the income tax department.
- You can also fill ITR using the smartphone app available in google Playstore.
Disadvantages of MyITReturn
- Not for professional who files tax returns for individuals
Best for – Individual who wants tax planning and ITR filing in a budget.
#6. Tax Spanner Income Tax E-Filing Software
Tax Spanner is the best choice if you receive foreign income. You can fix a dedicated call with an expert. Highly beneficial for freelancers, consultants, or bloggers who have foreign income sources.
You have to select option “ITR residents with foregin income assets”.
Secondly, the Tax Spanner calculates tax using complex algorithms to provide you accurate results.
Tax Spanner has various plans to meet all types of ITR filing requirements.
You can also get complete accounting packages in offers –
Advantages of Tax Spanner
- Dedicated Expert Advice – If your major source of income is from abroad, then you can avail of the expert advice to fill your foreign income in the correct way to avoid any penalties.
- Tax Advice – You can get tax advice from Chartered Accountants on financial matters to optimize your income and expenses.
- Complete Accounting Package – If you have a small startup or SME (Small and Medium-sized Enterprise), you can subscribe to the complete accounting package to get rid of the hassle of maintaining accounts books or filing GST returns yourself or searching for a local accountant.
Disadvantages of Tax Spanner
- Expert advice plans are costlier
- A cloud based platform, so the internet is mandatory for you.
Best for – New startups or freelancers who have foreign income sources and need a complete tax management solution
Best Income Tax Filing Software In India
#7. EZ Tax.in ITR Filing Platform
If you are looking for a free, easy to use mobile app for ITR filing, then EZTax is something you can rely on.
You just need to upload your Form-16 and follow the steps like your personal details including pan and aadhar details, bank details to complete your application process.
A new feature, introduced by EZTax, simulates the current income levels for next year and provides personalized recommendations to make changes for next year to save taxes.
It asks you simple questions like whether you want the low risk or high return, and shows you the possible tax refund every time you file your income tax return.
You can also use EZTax special feature ‘Creative Audit’ that analyzes your filled information and identifies errors as per the IT Rules. You can easily reduce your errors and avoid IT notices.
EZTax also has some paid plans, if you need assistance.
Advantages of EZTax.in ITR software
- Free to use – Though there are paid plans, if you know the nitty gritty of income tax then you can fill your ITR free using its easy to use interface
- Easy Filing – You just need to click a photo of your Form-16 (if you are employed) and upload it in the software, fill the details and you’re done.
- Tax optimizer – A new feature that gives you personalized recommendations on tax savings for next year.
- Reduce errors – ‘Creative audit’ analyzes your filled information and recognizes errors as per income tax department latest guidelines. You can easily avoid IT notices by reducing the chances of errors.
Disadvantages of EZTax.in ITR software
- App sometimes fails to scan Form-16 photos for the first time.
Best for – A salaried person who wants to fill ITR himself through the mobile app
#8. TaxSmile ITR software
Tax smile won’t confuse you with a bundle of plans. You either can file the ITR in Do-It-Yourself for free or Pay Rs. 500 and the TaxSmile team will do it for you.
However, TaxSmile charges you for some “Value Added Services”. So, you can pay individual charges for whichever service you want to subscribe.
Advantages of TaxSmile
- Easy Process – TaxSmile has a very simple interface for the reader to file the ITR for either free or let the team file the ITR.
- Value Added Services – You can pay as per your requirement. If you need any value-added services like post-filing support, you have to pay only for that. This makes the services quite flexible as per user’s needs.
Disadvantages of TaxSmile
- Limited form filing available only for ITR-1 and ITR-2
- There’s no complete package if someone needs all the services, he has to pay for individual services
Best for – You want to pay only for the required services and not interested in paying for the whole package.
TaxCloudIndia is a dedicated platform by ClearTax for CAs or professionals to file ITRs and TDS online. You have the trust of ClearTax and an advanced version to serve your professional needs.
They call it “Clear Tax for Chartered Accountants”.
You can easily file your client’s return in just 2 mins. Because you can get pre-filled data directly from the government portal in one click to ease your process.
You don’t have to fill every detail from the start, that saves your time.
TaxCloudIndia offers attractive pricing for CAs and professionals on bulk filing.
Advantages of TaxCloudIndia
- Quicker Return filing – You get pre-filled data of your client fetched from the official income tax department portal to ease and accelerate your e-filing process.
- Bulk Pricing – You can pay as per the number of returns you file. More the returns you file, cheaper will be the filing prices.
- Multiple logins from the same account – You can easily work on multiple clients at the same time. If you have a team they can also login separately to work on filing returns.
- XML file not required – You don’t need to have the client’s XML file to upload ITR details on the government portal. TaxCloudIndia has an ERI license to e-file the ITR directly.
Disadvantages of TaxCloudIndia
- No option to get different reports like depreciation, arrear relief.
Best for – Chartered accountants with more than 25 clients who need a simple platform to ease their e-filing task.
You can easily file your ITR from the comfort of your home with Quicko. You just need to upload your Form-16, cover all deductions and it’s done.
Quicko follows a simple 3-step approach to file an ITR –
Quicko also offers customized advice for different segments.
For example, if you are in stock trading, you have capital gains by trading stocks in profit. If you are not sure about doing it yourself, then you can take CA assistance to fill ITR with maximum tax savings.
CA assistance ITR filing plans
Different e-filing plans for different people like salaried, pensioners, NRIs or traders are given below.
#1. ITR assistance plan for salaried employees
#2. ITR plans for traders
#3. Plans for businessmen or entrepreneurs
#4. Special plans for NRI people
Advantages of Quicko
- Free to use – You can easily file your ITR free using Quicko’s easy to use interface if you understand the terminology.
- Easy filing – You have to upload your Form-16 and upload it on the portal, fill the further steps and you’re done.
- Different plans – You can choose from different plans if you need assistance in ITR return filing. They even offer a dedicated plan to pensioners.
- Expert opinion – You get expert opinion once you share the details to maximize your tax savings.
Disadvantages of Quicko
- Not a big name in the market if you are concerned about a brand
- Small businessmen may find it costly.
- No app available
Best for – Salaried, stock traders or pensioners who need assistance in filing income tax returns.
#11. Income Tax India E-filing Portal
I still find the Income Tax department’s official platform for e-filing of ITR useful if you are aware of the basics income tax terms.
You have to register yourself first if you are a newcomer or login using the official portal.
You must know about different ITR form types and under which you are filing the ITR.
Whether you are salaried or have a business, if you know the basic terms to follow while filing the ITR, you can easily file it over the official platform.
The best part is you don’t have to pay anything for submitting your income tax return. If you need any assistance, you go for the above discussed platforms.
Advantages of Income Tax India E-filing portal
- Utmost Privacy – Since you don’t have to share your income or business details with anyone, you can have maximum privacy by filing directly from department’s website
- Free to use – Income tax department’s website is totally free to use, so you don’t have to pay a single penny for ITR filing.
Disdvantages of Income Tax India E-filing portal
- Not easy to use for a newcomer
- You have to enable some excel options like Macros, if you are uploading an excel file to the portal
Best for – If you have some experience in filing ITR and don’t want to pay for the assistance
If you want to e-file your ITR yourself but want a simple to execute platform then go for ClearTax as they provide free of cost service if you do it yourself (easy to follow steps).
If you are a professional and need a complete standalone of computing software to automate your process, you can use Gen IT. It offers importing of account details directly from accounting softwares like Tally without your intervention.