JioFinance recently launched a Rs 24 plan to make income tax return (ITR) filing extremely easy and affordable. This offer sounds attractive, but is it right for every taxpayer? The answer is ‘no’. This plan is convenient only for those with very simple income and tax transactions.
Who exactly can use this JioFinance’s Rs 24 ITR filing plan?
-Taxpayers who need to file a return through ITR-1
-Applicable to those with income up to Rs 5 lakh annually
-Taxpayers who are salaried and have simple deductions without complex transactions.
So, if your income is only from salary and you have only one Form-16, or you are filing nil ITR, then this plan may be enough for you. That is, for taxpayers who file ITR-1 and who have neither business income, nor capital gains, nor foreign investments — this cheap option can prove to be affordable and easy.
Why is it not right for those with complex tax returns?
This plan is not sufficient for business people, those selling shares/mutual funds (capital gains) or taxpayers with foreign investments. In such cases, filing returns is complicated and the help of a chartered accountant (CA) or an expert is necessary. If the correct information is not entered, there is a possibility of getting a notice from the tax department.
How much does the expert-assisted plan cost?
JioFinance has launched this facility in partnership with TaxBuddy. If you want to file returns with the help of a CA, then JioFinance is charging Rs 999 for this. This rate is almost in line with other online tax platforms. Platforms like TaxManager, ClearTax and TaxBuddy charge anywhere between Rs 999 and Rs 2,500.
On the other hand, if you want to file returns yourself, self-filing plans are available on most platforms between Rs 199 and Rs 499.
What other features are there on the JioFinance app?
Taxpayers can not only file ITR on the JioFinance app, but can also track refund status, view return status, and receive tax-related notifications and alerts. This means that the app is on its way to becoming a one-stop solution for tax-related work.
The bottom line is that the offer of ITR filing at Rs 24 is useful for simple taxpayers, but those who have business income, capital gains, foreign investments, or other complex transactions should opt for the expert-assisted plan. Filing correct tax returns is not just a formality but a means of avoiding notices and penalties in future.
What is the last date to file ITR for AY 2025-26?
The government extended the income tax return filing deadline for the financial year 2024-25 (AY 2025-26) till September 15, 2025. The income tax department’s website shows that nearly 3 crore income tax returns have been filed so far this year, of which about 40% returns have been processed. With less than a month to go for the extended deadline coming to an end, the tax return filing is expected to gather pace in the coming days.