Knowledge Center

Jul 20
E-Return Intermediary
Posted by:MyEfilings
Income Tax e-filing gets easier with E-Return Intermediaries

As a responsible citizen of India, Income tax filing is a must. There are two ways of filing returns - Manual Filing and Online Filing/E-filing. Though E-Filing is convenient and commonplace now, it is still a time-consuming process.

Filing for returns at times becomes tedious for Salaried people especially if filing is procrastinated till due date. The list of documents and information required about the investments and others are many, hence may need round of corrections. Salaried people either need to take off or run behind their tax accountants or CAs for filing. Also many times online return filing servers crash due to overload of last minute processing applications making it a nightmare for customer and CA/ Tax consultant.

To ease these complications, the Government of India issues an E-Return Intermediary (ERI) license to practitioners who fulfil eligibility criteria & completes registration process. This license is issued by Income tax department under the legislation of Electronic Furnishing of Returns of Income Tax scheme, 2007. It authorizes the licensed Intermediaries to directly access I.T department’s server and upload e-returns online.

E-Return Intermediary is a boon to everyone who either has a requirement of bulk returns filling or individual filing during peak time. Not convinced yet?

Below are the key benefits for e-filing through an E-Return Intermediary:

Speedy processing- Individual return filing is time-consuming as well as energy consuming. On the other hand, E-filing through an intermediary is faster and gets priority on the ITD server. The returns get uploaded instantly even in bulk.

Refunds- In case you are eligible for receiving refund, generally processing takes around 10 – 12 months, whereas if you have filed returns through an E-Return Intermediary, you will receive refund within 1-2 months.

Secure- Filing return through E-return Intermediary (ERI) is secure as returns are filed directly on the server of IT department. The passwords of the tax payers are not revealed, all returns are filed from credentials for the ERI. The built-in validations on the server of the ITD scrutinize even minute details to assure security. 

Error Free- Possibilities of errors in filing returns online with E-return Intermediary (ERI) are rare. The system throws quick alerts as and when any wrong detail is encountered in the xml file & will ask for prompt corrections.

MyEFilings is among the few ERIs in the country.  At MyEfilings, returns are filed by professionals who very well understand the working of your accounts & importance of filing them on time.  Filing income tax returns online with MyEfilings – an authorized E-Return Intermediary, will be quick, simple and hassle free. MyEfilings executives make the process easier by visiting you to collect the required documents for when the returns to be filed exceed 100.

With 100+ services, MyEfilings offers a varied range of services from registering a company within 7 days to bookkeeping and annual return filings.

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