TaxSpanner looks at ten-fold rise in customer base

NEW DELHI: Online income tax return filing site TaxSpanner is aiming to increase its customer base ten times by next fiscal to 10 lakh on the back of its various service packages and expansion in the taxpayers' base.

The portal, which has authorisation from the central government to act as an e-return intermediary, has also launched an online charter seeking changes in the existing laws to raise the medical reimbursement limit among other things.

"Our site is absolutely user friendly and one just needs to upload the Form-16 and fill up a few details to file the returns. We have launched a number of services including e-vault where one can safely deposit their IT return records, besides tax planning and services for non-residents," TaxSpanner chief executive officer Ankur Sharma said.

Last fiscal, over one lakh individuals filed their IT returns though the portal and Sharma said by end of 2012-13 it is looking at a ten-fold increase.

"The number of taxpayers is currently only four crore but with the advent of the Direct Tax Code from next fiscal it is likley to increase to at least 15-20 crore. Besides, we have launched our packages in a way that they not only save time and assures confidentiality but also acts as one-stop shop for income tax filing and return".

"We hope to increase our customer base by over three lakh this fiscal and reach the 10-lakh mark next year," he said.

TaxSpanner has entered into partnership with around 500 firms across the country. Under it, the portal set up help-desks in the partner companies to facilitate employees in filing the returns.

Sharma said the portal has launched an online campaign with a five point agenda and over 26,000 signatures have been secured.

"One of the key points of the charter is a demand to raise the medical reimbursement limit from the current limit of Rs 15,000 to Rs 40,000," he said.

The charter also seeks principal amount of education loan to be allowed as a deduction from taxable income, linking income tax rate to inflation and revision of other allowances.
The portal will send a formal petition to the government once one lakh signatures are secured online.