Assisted Filing vs. Genie Tools: What TaxBuddy Does Differently
- Dipali Waghmode
- Sep 2
- 9 min read
In recent years, the process ofIncome Tax Return (ITR) filing has evolved, incorporating advanced technologies and tools to make the process more seamless and efficient for taxpayers. Taxpayers today have access to various digital tools designed to simplify the complexities of tax filing. Among these, platforms like TaxBuddy are making significant strides in offering both self-filing options and expert-assisted services. Let us explore the benefits of these new tools and the role they play in making tax filing easier, faster, and more accurate. Whether you're filing for the first time or are a seasoned taxpayer, understanding these tools can greatly improve your filing experience.
Table of Contents
What Are Genie Tools?
Genie tools are AI-driven solutions designed to automate the tax filing process, making it more efficient and user-friendly. These tools work by guiding taxpayers through the entire process of filing their Income Tax Returns (ITR). They help by automatically fetching relevant data, such as income details, deductions, and tax credits, directly from your Form 16, TDS certificates, or bank statements. The tools also provide suggestions to maximize tax savings and ensure accurate filings. The key advantage of Genie tools is their ability to reduce human error and the time spent gathering and entering tax-related data manually. They make tax filing a more straightforward and streamlined experience, saving taxpayers from making costly mistakes.
What Is Assisted Filing?
Assisted filing refers to a service where a tax professional or expert provides personalized assistance to taxpayers during the ITR filing process. This service is particularly beneficial for those who find tax filing complex or have intricate financial situations. Assisted filing can include verifying income details, calculating tax deductions, handling TDS mismatches, and ensuring all necessary documents are accurately filled out and submitted. Unlike self-filing, where the taxpayer is fully responsible for the return, assisted filing offers the peace of mind that comes with expert support. Tax professionals use their in-depth knowledge of tax laws and filing procedures to ensure that the return is not only accurate but also maximizes available tax savings.
What Does TaxBuddy Do Differently?
TaxBuddy has revolutionised the way taxpayers approach filing their Income Tax Returns (ITR) by offering a blend of cutting-edge technology, expert support, and a highly personalised experience. The platform stands out in a crowded market of tax filing services by providing more than just the basic self-filing option. Here’s an in-depth look at how TaxBuddy distinguishes itself:
1. Combination of Advanced Technology and Expert Assistance
Unlike many tax filing platforms that offer only a basic self-filing option, TaxBuddy provides users with the flexibility to choose between self-filing and expert-assisted filing. This dual approach caters to both individuals who prefer to file their returns independently and those who require professional support to navigate the complexities of the tax system. Whether you have a straightforward return or a more complex one involving multiple sources of income, TaxBuddy ensures that you have the right resources at your disposal.
2. AI-Powered Tools for Data Extraction
One of the most powerful features that sets TaxBuddy apart is its AI-powered Genie tools. These tools automatically extract and populate tax-related data from your documents, such as Form 16, investment statements, and more. By using Genie, the platform minimizes the risk of errors that often occur during manual data entry. This automation streamlines the process, making it faster and more accurate for users, ensuring they file without missing out on crucial information or making costly mistakes.
3. Personalized Expert Support
While many tax platforms rely solely on automated systems, TaxBuddy goes a step further by offering personalized support from tax experts. Whether you are a business owner, a freelancer, or someone with multiple sources of income, navigating the complexities of tax filing can be overwhelming. TaxBuddy’s experts are available to assist with complex filings, answer queries, and provide tailored advice. This personal touch ensures that your filing is as accurate as possible, and you don’t miss out on any potential tax-saving opportunities.
4. Comprehensive Tax Knowledge
TaxBuddy doesn’t just help you file your taxes; it ensures that you are fully informed about the tax-saving opportunities available to you. The platform keeps users up-to-date on deductions, exemptions, and tax-saving strategies specific to their financial situation. Whether it’s deductions underSection 80C, home loan benefits, or new tax regime choices, TaxBuddy walks you through various ways to optimize your tax filings and maximize your savings.
5. User-Friendly Interface
Another key feature of TaxBuddy is its easy-to-use interface. The platform is designed to be intuitive, making the tax filing process seamless, even for those who are not familiar with tax laws. The step-by-step guidance ensures that users are never left guessing, and it takes only a few clicks to complete the entire process. The simplicity and clarity of the platform make it accessible to all, from young professionals to retirees.
6. Post-Filing Support
TaxBuddy recognizes that the journey doesn’t end once your return is filed. Many taxpayers face issues post-filing, such as queries from the Income Tax Department, notices, or corrections needed in their returns. TaxBuddy’s post-filing support ensures that users have access to assistance if any problems arise after submission. Whether you need help with rectifying a mistake, dealing with tax notices, or simply understanding your tax assessment, TaxBuddy’s team is available to guide you through the next steps.
7. Reduced Chances of Errors and Delays
With its combination of advanced technology and expert support, TaxBuddy minimizes the chances of errors and delays in the filing process. The AI tools and personalized guidance ensure that your return is accurate, compliant, and filed on time. By automating routine tasks and offering hands-on expert advice, the platform reduces the risk of costly mistakes that could result in audits, penalties, or delays in receiving your refund.
8. A Transparent and Secure Filing Experience
TaxBuddy also prioritizes transparency and security, ensuring that your sensitive financial data is protected at all stages of the filing process. The platform complies with the latest data protection regulations and uses encryption to safeguard your information. Furthermore, users are kept informed at every step of the process, from data entry to final submission, so they always know what’s happening with their tax filing.
9. Comprehensive Services for a Wide Range of Taxpayers
Whether you're an individual taxpayer with a salaried income, a business owner navigating GST and other complex deductions, or a freelancer with multiple streams of income, TaxBuddy caters to a wide variety of taxpayers. The platform offers solutions for all types of tax filings, ensuring that every user, regardless of their financial situation or filing complexity, has access to expert help and automated tools tailored to their needs.
Conclusion
Tax filing has come a long way, thanks to the integration of tools like Genie and expert-assisted services that simplify the process for users. TaxBuddy’s combination of AI-driven tools and professional assistance ensures that both novice and experienced taxpayers can file with confidence. Whether you’re filing your tax return for the first time or managing a complex return, TaxBuddy offers a comprehensive solution that ensures accuracy, maximizes tax savings, and reduces the risk of errors. For those who prefer a hands-off approach or need guidance through complex situations, TaxBuddy’s expert assistance makes tax filing easier than ever. For anyone looking for assistance in tax filing, it is highly recommended to download theTaxBuddy mobile app for a simplified, secure, and hassle-free experience.
FAQs
Q1: What are Genie tools and how do they help in tax filing? Genie tools are AI-powered tools that automate and simplify the tax filing process. These tools use artificial intelligence to extract data from key documents such as Form 16, TDS certificates, and other relevant records. Once the data is extracted, the tools automatically fill out the Income Tax Return (ITR) forms, saving taxpayers time and reducing the chances of errors. Additionally, Genie tools suggest potential tax-saving opportunities based on your financial situation, ensuring you maximize your deductions and reduce your tax liability. This makes the tax filing process faster, more accurate, and efficient.
Q2: Can I file my ITR without using assisted filing? Yes, you can file your Income Tax Return (ITR) without using assisted filing. The self-filing option is available for taxpayers who are comfortable handling their tax data independently. Self-filing allows you to complete the ITR process on your own using available tools like TaxBuddy’s self-filing platform, which provides all the necessary forms and instructions. However, if you find the process complicated or need assistance, you can opt for expert-assisted filing, where a tax professional guides you through the process to ensure your return is accurate and compliant.
Q3: How is assisted filing different from self-filing? Assisted filing differs from self-filing primarily in the level of support provided. With assisted filing, a tax expert handles your return from start to finish, reviewing all your documents, filling out the necessary forms, and suggesting any potential tax-saving opportunities you might have missed. This ensures your filing is accurate, and you benefit from professional guidance, especially for complex tax situations. In self-filing, you are responsible for completing the filing process on your own. While you can still use tools and resources to guide you, it requires more effort and understanding of the tax system. Self-filing is suitable for those who are familiar with tax filing and prefer to manage the process independently.
Q4: What sets TaxBuddy apart from other tax filing platforms? TaxBuddy distinguishes itself by combining AI-driven tools with expert-assisted filing services. Its platform uses advanced AI technology to extract data from documents like Form 16, calculate tax savings, and automate the filing process, ensuring accuracy and speed. Additionally, TaxBuddy offers expert assistance, where certified tax professionals review and file your returns on your behalf. This combination of automation and personalized support ensures that both simple and complex returns are filed correctly, maximising tax savings and minimising errors. TaxBuddy’s intuitive interface, transparency in pricing, and commitment to security further enhance its appeal as one of the leading tax filing platforms.
Q5: Is my data safe on TaxBuddy? Yes, your data is completely safe on TaxBuddy. The platform uses advanced encryption and security protocols to protect your personal and financial information. All data is stored securely, and the platform follows strict privacy practices to ensure confidentiality. TaxBuddy adheres to industry-standard security measures, including secure data transmission, multi-factor authentication, and data backups, ensuring that your information is kept safe from unauthorized access or breaches.
Q6: Can I get help if I need assistance after filing my return? Yes, TaxBuddy offers post-filing support to assist with any issues or concerns that may arise after your return has been submitted. Whether it’s addressing discrepancies, responding to notices from the Income Tax Department, or clarifying any questions related to your filing, TaxBuddy’s support team is available to help. If you face any issues with your tax return or refund processing, TaxBuddy’s experts are just a call or message away, providing comprehensive assistance to resolve any challenges.
Q7: How much does it cost to file with TaxBuddy? The cost of filing with TaxBuddy depends on the type of service you choose. TaxBuddy offers flexible pricing based on whether you select self-filing, expert-assisted filing, or premium plans. Self-filing is the most cost-effective option, while expert-assisted filing offers more personalized support for a slightly higher fee. Premium plans include additional services like tax planning and filing for more complex cases, such as businesses or high-income individuals. Pricing is transparent and clearly outlined on the TaxBuddy platform, allowing you to choose the best service according to your needs and budget.
Q8: Does TaxBuddy support businesses and freelancers? Yes, TaxBuddy supports a wide range of tax filing needs, including for businesses and freelancers. Whether you are an individual freelancer, a small business owner, or a larger corporation, TaxBuddy provides solutions tailored to your specific tax filing requirements. The platform accommodates complex business filings, including tax audits, TDS reports, and GST filings, ensuring that businesses comply with all necessary regulations. Freelancers can also benefit from TaxBuddy’s tools to accurately report their income and deductions, maximizing their tax savings and minimizing their liabilities.
Q9: What happens if I make a mistake on my ITR? If you make a mistake in your ITR, you can file a revised return. TaxBuddy allows you to correct any errors quickly by submitting a revised return before the assessment year ends. Common mistakes like incorrect income reporting, missing deductions, or wrong tax calculations can be corrected. If errors are noticed after filing, TaxBuddy’s expert team will assist you in filing the revised return accurately. It's essential to rectify mistakes promptly to avoid penalties or interest on any additional taxes due.
Q10: How do I track the status of my ITR after filing? TaxBuddy provides a built-in tracking feature to help you monitor the status of your ITR filing. You can track the progress of your return and any updates regarding your refund directly from the platform. Additionally, you can also check the refund status through the official Income Tax Department portal by logging in with your PAN number and the assessment year details. Tracking features on TaxBuddy help keep you informed at every stage of the process, offering peace of mind that your filing is being processed smoothly.
Q11: Can I make corrections in my ITR after filing? Yes, you can make corrections in your ITR after filing by submitting a revised return. If you realize that you made a mistake, such as incorrectly reporting income, missing deductions, or providing incorrect TDS details, you can file a revised return before the end of the assessment year. TaxBuddy offers expert assistance to ensure that the correction is done accurately and promptly. Filing a revised return helps prevent any penalties or issues that could arise from inaccuracies in your original submission.
Q12: Does TaxBuddy support all tax regimes for ITR filing? Yes, TaxBuddy supports both theold tax regime and the new tax regime for ITR filing. The platform helps you choose the most beneficial option based on your income, deductions, and financial goals. If you’re unsure about which regime offers the best tax savings, TaxBuddy’s expert team can assist you in evaluating your options. Whether you prefer to take advantage of exemptions under the old tax regime or opt for the simplicity of the new regime, TaxBuddy ensures that you make the right choice for your tax situation.
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