Taxsmile Presents - Taxsmile Premium

Taxsmile launched it's new product Taxsmile Premium for customers with an objective of providing high-quality taxation support services. Taxsmile Premium is the only product capable of providing such services in India. Below are few of the salient features of the product -

•Simple, intuitive user interface for Income Tax Return preparation and e-filing
•Advantage of e-filing with Digital Signature
•Choose to get Income Tax Return reviewed by Tax professionals
•Round the year support for Income Tax queries*

Please visit www.taxsmile.com for more information.

Taxsmile.com India Pvt. Ltd. is a company duly registered under The Companies Act, 1956. It was conceived and realised by a group of like-minded professionals. They shared a common dream: to revolutionise tax compliance in India using state-of-the-art technology - a concept that was alien to taxpayers in India until then. Taxsmile designed a bouquet of end-to-end solutions to help the taxpayer file his income tax return. Taxsmile is the first Indian company having its own tax preparation and filing website, that is also an e-Return Intermediary (ERI) duly authorised by the Income Tax Department.

Vision
To become the preferred e-tax compliance service provider in the emerging eGovernance regime, with quality services and ongoing innovations delivered across all spheres of service.

Mission
To offer products and services that enable taxpayers to meet their tax obligations and manage their tax affairs in an easy and cost-effective manner.

Quality Commitment
Taxsmile is geared toward providing the best to its customers. The application our customers use is tested by an in-house team of Information Technology professionals. The online tax return preparation software undergoes rigorous tests using true-to-life case scenarios simulated by our team of Chartered Accountants before it can be used by the customer. Add to it impenetrable security, and you have an ideal platform to manage tax affairs!

Data Security
At Taxsmile, we understand how security-conscious today's customer is. We have taken several key steps to meet this need:

Taxsmile uses a 128-bit encryption for transmitting data between customer’s browser and the server.
Taxsmile is designed to “Scale Out”. The application architecture has been reviewed for Scalability and Security by senior architects from Microsoft.
Taxsmile's core application is hosted on a “Web Farm” at an international standard, secure Data Centre, with disaster recovery capabilities.
Our application's Security Assessment has been carried out by Paladion Networks, leaders in this segment.
Credentials
Our clientèle includes the best of the Corporates from the IT, ITES, BFSI and Manufacturing fields. The list includes:

IT majors like Infosys, Mahindra Satyam, L&T Infotech, etc.
ITeS majors like Mphasis, Sutherland, Aegis, Cognizant, Convergys etc.
Leading Banks like ICICI Bank, HDFC Bank, Axis Bank etc.
Leading Insurance companies like ICICI Pru, HDFC Standard, Aviva Life, Birla Sunlife, etc.
Non-IT majors like Crompton Greaves, LG Electronics, etc.

Efiling… No More A Myth…

As human beings, we are always surrounded by myths which we face on a day-today basis. One of the latest and widespread myths is about efiling of income tax return. Even the advancement of technology has not been able to remove the myth from our mind. The main reason why most people avoid to efile is because they are acting out of fear - fear for technology, and fear of the unknown and most important fear for personal data security. Contrary to popular belief, efiling is a simple process. It is the most safest and convenient way to file the income tax return. With the progress of technology, organizations have made the entire filing process automated. The efiling process is handled by secured servers eliminating the risk of errors and data theft. By the virtue of tradition and myth most people are accustomed to filing for taxes the traditional way - using paper forms. The problem with using paper forms to file for taxes is that there is a lot of room to make mistakes. Most of these mistakes are due to pure negligence, and can be easily avoided. When someone makes a mistake in the forms, that individual may be asked to file for tax returns again to rectify the mistake. By then, the deadline would have come and gone. If that is the case, the individual is liable for certain late penalties. The best way to avoid making mistakes while filing is to efile. Efile helps to reduce mistakes because everything is very systematic. It's almost like using a wizard on your computer. You are walked through the entire process in a step by step manner. If there are mandatory fields that you need to fill in, you won't be able to complete the submission, and the software will prompt you to fill in the necessary information. Sometimes, after filling in all the forms, you can check and recheck for mistakes. But when you want to send the physical forms out, you accidentally left one out. Again, that makes an incomplete submission. For sure, this won't happen if you choose to efile. If there is some information that you need, and you don't have it with you, you can always save your efile as a draft and come back to complete the process another time. All you need is to create an account with an efiling service provider or popularly known as efiling intermediary e.g. Taxsmile.com. Taxsmile.com is approved and authorized by Income Tax Department, Government of India. You can use your log in Id and password to log in and efile at any time before the scheduled time, virtually from anywhere in the world. Moreover as responsible human beings we have another responsibility towards our environment. Efiling helps in protecting the environment. To prepare the paper forms every year almost 75,000 trees are being cut. You can help save these trees by opting for efiling. Using your digital signature certificates, you can efile your income tax return online, making the complete filing process absolutely paperless. So start efiling from this year onwards. You will find the process most efficient and convenient.

CPC commences issue of refunds for AY 2010-11 returns.

Centralized Processing Center (CPC), Bangalore has begun processing of returns for AY 2010-11. Till 10/12/2010 it has processed over 15 lakh e-filed returns of AY 2010-11 in ITRs 1, 2, 3, 4 and issued refunds in over 1.6 lakh cases. These returns were filed during this year from April to October 2010. Marking the advent of Income Tax department in digital era, all intimation orders are being sent by e-mail to taxpayers as a digitally signed password protected PDF document. SMS alerts (where mobile number is provided) to taxpayers on completion of processing and determination of refunds has been introduced for ITRs of AY 2010-11.

*Source Income Tax Department of India.