Tech Company UdChalo Offers UTAX A Digital Solution For Filing Defense Personnel Tax Returns
This is great news for Defense personnel as filing the tax return is much easier thanks to a digital solution. It will provide a great respite for our soldiers who are deployed to remote locations guarding our country and do not have time to leave the post. They don’t need to worry now. They can simply do it on the digital platform or can go to the nearest center specially designed for them.
udChalo, a leading consumer technology company for Indian defense personnel, recently introduced ‘UTAX’ into its existing portfolio of services offered to its customers. UTax backed by udChalo consists of a team of experienced and knowledgeable tax and finance professionals who understand pay scales and military allowances, handle tax planning and provide investment advice.
“UTaxis is the only actor operating within the Defense Brotherhood with an ERI license (ERIA102211) from the Department of Income Tax and is officially authorized to file income tax returns,” says Ravi Kumar, CEO of udChalo. It is also CERT & PCI certified, ensuring the security of data that can only be downloaded by the customer. The entire tax declaration is secured during service and during a second career which can be used at any time via UTax.
This allows easy access at any time when applying for a loan or VISA. In addition to the accurate filing of taxes, a thorough analysis of Form 16 is performed and recommendations are provided through several tax saving instruments to maximize savings on salaried income for the next fiscal year. 90% of Defense personnel pay taxes although they are eligible for an additional tax exemption of 1.5 lakes under 80 EEA. Under 80EEA, you can qualify for the additional 1.5-lake tax exemption if you have purchased a home up to 45-lake.
In addition, UTax keeps its clients informed of any changes that impact them due to budget sessions and any other financial notifications.
UTax charges a flat fee of Rs 299 / – for the ITR 1 scheme called SHAURYA, which is used to build technology infrastructure and employ qualified tax advisers. In most cases, it is mandatory for armed forces personnel to file an ITR-1, despite NIL filings for the assessment year. UTax programs are available through the udChalo website, app and at udChalo’s 70+ Outreach Centers.
udChalo has 8 awareness centers in J&K.
Filing RTI is difficult due to the changes in the process each year and the complexity of understanding the various types of income, deductions, and tax saving instruments.
“Most of the armed forces personnel file their taxes with the help of their friends or by using unauthorized agents who promise huge income without asking for any valid proof, which could result in incorrect declarations, resulting in besides higher fines or computer notices. “
It is important to check whether an agent has an ERI license or is a licensed tax preparer, as this requires them to act responsibly.
UTax provides lifelong support to armed forces personnel with filing of RTIs year after year on a systematic basis. Despite assignments in different LMAs, UTaxis is easily accessible at each posting location, making it the most convenient tax filer for the Indian Armed Forces.
In addition to this, UTax provides employment and training opportunities for defense spouses and tax-filing dependents, giving them the opportunity to pursue a career in this field.
UdChalo’s goal is to make life easier by creating unique, convenient and cost-effective platforms for soldiers to access consumer products and services.
Filers who file an RTI with UTax via udChalo will soon benefit from access to personal loans from their P2P lending partner platforms.
Why is the RTI repository important for Defense personnel?
Filing of income tax returns (ITR) is mandatory for anyone with income over Rs. 2.5 lakh (under 60 years old). Citizens over 60 and over 80 will be required to deposit their ITRs if their income is over Rs. 3 lakh and Rs. 5 lakhs, respectively.
The penalty for non-filing or late filing is Rs 1,000 for income below 5 Lakh / year and Rs 10,000 for income above 5 Lakh / year.
Depositing the RTI on time allows you to obtain loans (home and vehicle) from recognized banks and NBFC at a much lower interest rate. Plus, only those who can get a bank loan become eligible for other government benefits such as PMAY up to 2.67 lakes while purchasing an affordable home that you will otherwise be deprived of.
Filling out an ITR incorrectly or without sufficient proof can get you in trouble, as the income tax department recently started sending notices to serving staff and veterans.
Filing income tax returns on time provides a refund for excess taxes paid due to withholding tax (TDS), interest on FD, or other deductions. The RTI receipt is an important document for all loans and VISA processing.