Hyderabad, India's first customised online tax filing service 'www.taxyantra.com,' developed by alumni of the Indian School of Business (ISB), was launched in the city today. This service provides Indians and NRIs across the world with end-to-end tax filing solutions and financial services.
The web-based solution created by TaxYantra enables the tax payer to understand taxes and fill the tax return forms online. The print outs of these forms will be picked up representatives of the company and filed with the Income Tax department. The company would charge for its service.
Launching the online service here, Income Tax Chief Commissioner Dharmik said the service would help taxpayers avoid time spent on filing tax returns.
Taxyantra Director Nitin Vyakaranam said, ''We will provide the Indian tax payers the flexibility to file tax returns from anywhere in the world.
"Our website has received about 50,000 hits in the last couple of days, and a quarter of them have been from Hyderabad and Bangalore," he added.
According to their survey, individual income tax assessees spend, on an average, five hours on filing returns by way of meeting HR personnel, consultants and waiting in queue at the Income Tax office.
Rammohan Rao, dean of ISB, said the institute's endeavour was to churn out job creators and not job-seekers.