Fintech company Clear (erstwhile ClearTax) has started charging for its Income Tax Return (ITR) self-filing feature from the current assessment year. The company, which started with self-ITR filing in 2011 as the first product offering, was providing this facility free of cost.
“This incredible product has been available to all our users for free for 10+ years. In order to continue supporting our users with this amazing product, starting May 2022, we are charging our users a nominal fee which gives us 0% downtime While ensuring that the data of millions of Indians will be processed permanently,” read a note on Clear’s website.
taxpayers They have to choose between three schemes based on the ITR form applicable to them.
those with low income 5 lakh and eligible for ITR-1 will have to pay 199 fee. This facility provides pre-filled data from Form 16 and Income Tax Department website.
Individual taxpayers with low income 50 lakhs from salary, a house property or other source can file ITR-1. Hindu Undivided Family (HUF) cannot file ITR-1.
Those who are eligible for ITR-1 but have income 5 lakh and above will have to be paid To file ITR through 399 Clear. People eligible for ITR-4 will also have to opt for this scheme.
Below Income Individual or HUF 50 lakh from salary, a house property, other sources or business but have opted for the presumptive income scheme ITR-4 will have to be filed. A business firm, not being a Limited Liability Partner (LLP), whose turnover exceeds 2 crore cannot file ITR-4.
Those eligible for ITR-2 and ITR-3 will have to pay a fee of 799.
ITR-2 is applicable to taxpayers who have high income 50 lakhs from salary, one or more house property, other sources, foreign assets, interest more than contribution 2.5 lakh made for provident fund and capital gains. Taxpayers holding unlisted shares or/and being directors in any company will also have to opt for ITR-2.
The relatively complex ITR-3 is for taxpayers who have income from profession or business including F&O trading income along with any of the sources mentioned under ITR-2.
Companies opting for ITR-5 or ITR-6 will have to pay the highest fee of 1,599.
For taxpayers who are not required to undergo a tax audit, the last date to file ITR is July 31.
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