Fintech agency Clear begins charging for ITR submitting after 10 years of free service

Fintech firm Clear (erstwhile Cleartax) has began charging for its revenue tax return (ITR) self-filing function starting present evaluation 12 months. The firm, which began in 2011 with self-ITR submitting as the primary product providing, had been offering the power freed from price.

“This unbelievable product has been obtainable freed from price to all our customers for 10+ years. In order to proceed supporting our customers with this wonderful product, beginning May 2022, we’re charging our customers a nominal payment that will assist us sustainably course of information of thousands and thousands of Indians all whereas making certain 0% downtime,” learn a observe on Clear’s web site.

Taxpayers should select from three plans relying on the ITR kind relevant to them.

Those with revenue beneath ₹5 lakh and eligible for ITR-1 pays ₹199 payment. The facility gives pre-filled information from Form 16 and the Income Tax Department web site.

Individual taxpayers who’ve revenue beneath ₹50 lakh from wage, one home property or different sources can fill ITR-1. Hindu Undivided Family (HUF) can not fill ITR-1.

Those who’re eligible for ITR-1 however have revenue of ₹5 lakh and above should pay ₹399 to file ITR by Clear. Those eligible for ITR-4 additionally must go for this plan.

Individuals or HUF with revenue beneath ₹50 lakh from wage, one home property, different sources or enterprise however have opted for presumptive revenue scheme must fill ITR-4. A enterprise agency, which isn’t a Limited Liability Partner (LLP), with turnover of over ₹2 crore can not fill ITR-4.

Those eligible for ITR-2 and ITR-3 must pay a payment of ₹799.

ITR-2 applies to taxpayers with revenue over ₹50 lakh from wage, a number of home properties, different sources, overseas property, curiosity from contribution over ₹2.5 lakh made to provident fund and capital positive aspects. Taxpayers who maintain unlisted shares or/and are a director in an organization additionally must go for ITR-2.

The comparatively sophisticated ITR-3 is for taxpayers who’ve revenue from occupation or enterprise, together with F&O buying and selling revenue, together with any supply talked about underneath ITR-2.

Companies choosing ITR-5 or ITR-6 must pay the very best payment of ₹1,599.

The final day to file ITR for particular person taxpayers not required to get tax audit is 31 July.

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