NEWS & ADVICE : FIXED DEPOSITS
SBI introduces service to facilitate e-filing of I.T. returns
By Neelima Shankar
Jul 6, 2012
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The country's largest lender, State Bank of India, has recently started an online service to file income tax returns. At present, the service will be provided only to the customers of the bank.

Issuing a statement on the matter, the bank said that the customers availing this service will be charged a nominal fee of Rs. 150, including taxes. The payment can be made through SBI internet banking or through debit card.

The bank statement said, "Considering that it is mandatory for individuals earning an annual income in excess of Rs 10 lakh to file their returns online from the current financial year, there is a growing demand for online tax filing services which SBI is trying to meet and provide for its customers through its eFile service."

Additional features such as review by a professional, tracking the status of tax refunds, an online tax vault storing documents related to tax issues and use of digital signature for online filing can also be availed but by paying higher fees.

The service will be extended to salaried and self employed individuals as well as professionals.


 


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