Now you may file tax returns e-way

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Coimbatore: Hyderabad-based Fortune Informatics Ltd, a software development company, on Thursday launched its new product 'eTaxFile,' here for filing of income tax returns.

"The product is a comprehensive TDS management software application designed to automate the entire activity from accurate computation of TDS (tax deducted at source) to preparation of challans and TDS returns and finally in the electronic filing of the TDS returns itself," Avinash Kulkarni, Regional Manager of the company told reporters here.

The Income Tax department has authorised the National Securities Depository Limited (NSDL) to accept TDS returns on behalf of the Government, he said and claimed that eTaxFile has been designed as per the formats prescribed by NSDL.

The company has launched a marketing campaign to improve awareness and increase public appreciation of reforms in income tax administration, for which, it has specifically targeted the Chartered Accountant community, Kulkarni said.

With over 50 lakh companies and organisations in India, Fortune, which has already launched its product in other parts of the country, has two per cent of market share and wanted to enhance it within shortest possible time, Kulkarni said.