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Tech Firm UdChalo Offers ‘UTAX’, A Digital Solution To File Income Tax Returns For Defence Personnel

Defence Personnel can easily file their ITR now. udChalo which is a leading Consumer Technology Company for Indian Defence Personnel recently introduced ‘UTAX’ to its existing portfolio of Services offered to its Customers. UTaxis the only player operating within the Defence fraternity with an ERI license and is officially authorized to file Income Tax Returns. As a common practice, in the absence of such digital solutions, most of the Armed Forces Personnel file their taxes with the help of their friends or using unauthorized agents who promise huge returns without asking for any valid proof. This also leads to incorrect filings. Besides, It has Outreach Center which is located in places like J&K for the serving Personnel.

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There is a great news for the Defence Personnel as filing Income Tax Return is made much simpler through a digital solution. It will provide great respite for our soldiers who are deployed far-away locations, guarding our country and have no time to leave the Post. They need not worry now. They can simply do on digital platform or can walk upto nearest center which is especially set up for them.

udChalo, a leading Consumer Technology Company for Indian Defence Personnel recently introduced ‘UTAX’to its existing portfolio of Services offered to its Customers. UTax supported by udChalo comprises of a team of experienced and knowledgeable tax and financial professionals that understand military pay scales and allowances, take care of tax planning, and provide advice on investments. 

"UTaxis the only player operating within the Defence fraternity with an ERI license (ERIA102211) from the Department of Income Tax and is officially authorized to file Income Tax Returns,' says Ravi Kumar, CEO, udChalo. It is also CERT & PCI Certified, ensuring data security which can be downloaded only by the Customer.Entire Tax filing is secured while in service and during a second career that can be availed of any time throughUTax. 

This enables easy access at any stage when applying for a loan or VISA. Apart from accurate filing of taxes,a thorough analysis of Form 16 is made, and recommendations are provided through multiple tax saving instruments to save maximum out of a salaried income for the next financial year. 90% of Defence Personnel pay tax despite being eligible for an additional tax exemption of 1.5 lacs under80EEA. Under 80EEA, you are eligible to avail of the additional 1.5 lacs tax exemption if you have purchased a home upto 45 lacs.

In addition, UTax keeps its customers informed about all the changes that impact them due to budget sessions and any other financial notifications.

UTax charges a flat fee of Rs 299/- for ITR 1 scheme called SHAURYA, that is used towards building tech infrastructure and employing qualified tax consultants. In most cases, it is mandatory for Armed Forces Personnel to file ITR-1, despite NIL filings for the Assessment Year. UTax schemes are available through the  udChalo Website, App and across udChalo’s 70 plus Outreach Centers. 

udChalo has 8 Outreach Center in J&K.

Filing ITR is challenging due to changes in the process every year and complexity in understanding of various income types, deduction and tax saving instruments. 

"Most of the Armed Forces Personnel file their taxes with the help of their friends or using unauthorized agents who promise huge returns without asking for any valid proof and this could lead to incorrect filings, which further result in higher fines or IT notices."

It is important to check if an agent has an ERI license or is a Certified Tax Return Preparer, as that make them act responsibly.

UTax provides lifetime support to Armed Forces Personnel with filing of ITR year after year in a systematic way. Despite postings at different LMA’s, UTaxis easily accessible at every posting location which makes it the most convenient tax filer for the Indian Armed Forces.

In addition to this, UTax offers employment and training opportunities to Defence Wives and Dependents on tax filing providing them with an opportunity to pursue a career in this domain.

udChalo’s, aim is to make life simpler by building unique, convenient, and cost-effective platforms for the soldiers to access consumer products and services. 

Tax filers filing ITR with UTax through udChalo will soon benefit access to Personal loans from their P2P lending partner platforms.

Why Filing ITR is Important for Defence Personnel? 

Filing Income Tax Returns (ITR) is mandatory for all having income above Rs. 2.5 lakh (aged below 60 years). Citizens aged above 60, and those above 80, will have to file their ITR if their income is above Rs. 3 lakh and Rs. 5 lakhs, respectively. 

Penalty for non-filing or late filing is Rs 1,000 for income below 5 Lakh/year and Rs 10,000 for the income above 5 Lakh/year.

Filing ITR on time helps secure loans (home and vehicle) from recognised banks and NBFCs at a much lower interest rate. Furthermore, only those who can secure a bank loan become eligible for other government benefits like PMAY of upto 2.67 lacs while purchasing an affordable home which you will be otherwise deprived of. 

Filling incorrect ITR or without sufficient proof may land you in trouble as recently Income Tax dept has started sending notices to Serving Personnel and Veterans too. 

Filing Income Tax Returns on time gets refunds for the excess taxes paid due to tax deduction at source (TDS), on interest on FDs or other deductions.  ITR receipt is an important document for all loans and VISA processing.