IT Filing

SSBA Innovations, which runs tax portal TaxBuddy, has filed preliminary papers with capital markets regulator Sebi to raise Rs 105 crore through an Initial Public Offering (IPO). The IPO is entirely a fresh issue of equity shares aggregating up to Rs 105 crore, according to the Draft Red Herring Prospectus (DRHP). Proceeds of the issue to the tune of Rs 65.45 crore will be used for funding user acquisition and business development, Rs 15.22 crore for technological development and balance amount towards general corporate purpose. The company is a technology-driven financial solutions and services platform focused on providing financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on its platforms. Incorporated in 2017, SSBA Innovations owns two platforms -- TaxBuddy and Finbingo. TaxBuddy was launched in October, 2019, that offers assisted tax (ITR and GST) plan

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Sitharaman further urged Infosys to work on the new income-tax portal to make it more humane and user-friendly

Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed

If travelling abroad, keep a copy of bank statement which has details of payments made for buying tickets and hotel expenses

Be ready for a long haul even if there are punching errors from these service providers

The move will help in bringing down the income tax return (ITR) processing time to one day and hence speed up refunds