Makemyreturns.Com
JRC Technologies, registered as a Private Limited, is a Government of India recognized E-Return Intermediary having ERRIN no. E99900000406 registered in the state of Maharashtra at the address 212 Jolly Bhavan No. 1, 10 New Marine Lines, Mumbai - 400020.
Founding Team
JRC Technologies Private Limited is founded by three Indians with an extensive experience in The INDIAN tax domain. Vikram Ramchand is the current chief innovation officer, who has already jump-started two successful start-ups. He has a bachelor’s degree in computer science from the Georgia Institute of Technology, Atlanta and an MBA from the London Business School. Aashish Ramchand is the current chief executive officer, and a Chartered Accountant and a CFA Level I by profession with 5 years of tax advisory experience. The third founder, Varun Advani is the COO and an aspiring Chartered Accountant.
Funding
This initiative is funded by J. Ramchand and Company and Mr. Mohammad Al –Sadah (MBA, London Business School and COO, Vodafone Qatar). They are also supported by M.B. Advani and company with 25 years of experience in India tax advisory and consulting.
Services
Primary service provided by JRC Technologies is through their income tax e-filing website - Makemyreturns.com. This service enables individuals to e-file their Indian income tax return through their website that connects directly to the Indian Government’s income tax website. Other services include e-filing for NRI’s and tax advisory services for individuals and corporates.
E-filing in India
In India, income tax e-filing is compulsory for firms and bigger organizations with receipts of Rs. 60 lakh and professionals with an income of Rs. 15 lakh. However, during the fiscal 2011-12 the government of India has made it mandatory for people with an income more than Rs. 10 lakh to e-file their income tax returns online with digital signature, therefore the demand for e-filing service providers has increased significantly.
With a few people in India being aware of the concept of e-filing income tax returns and being optional till 2010-11, the Income Tax Department received 1.64-crore returns through e-filing during the fiscal year 2011-12.
As per the ministry of India, salaried employees earning up to Rs 5 lakh a year need not file income tax returns from this year. However, this exemption is permitted only if the assesses have received a certificate of tax deduction in Form 16 from their employer. While e-filing of returns makes the job easier for people, The Central Board of Direct Taxes (CBDT) claims that it is an easy, fast and secure method.