13 Best Free Income Tax Filling Software for Businesses

Amaey Anand

Senior Writer

Best Free Income Tax Software for IT Returns and TDS Returns

Key Takeaways:

  1. Income tax filing software comes as online platforms, downloadable programs, and mobile apps, catering to varied user preferences.
  2. Tax filing software offers accuracy, time-saving tools, accessibility, and potential for maximizing deductions, streamlining tax filing processes.
  3. Free versions offer basic functionalities, while premium features include audit support and enhanced customer service.
  4. When choosing tax software, evaluate usability, security, customer support, compatibility, and pricing structures meticulously for suitability.

Every time we approach the end of the financial year, the burden of filing taxes and tax returns looms large. The prospect of mounting paperwork and staying on top of the changing government regulations makes one dread the fiscal year-end.

Looking for Income Tax Software? Check out SoftwareSuggest’s list of the best Income Tax Software solutions.

However, there are a number of paid and free income tax return filing software available on the market to help you in the process. Besides, they require minimal to zero paperwork and remove much of the stress from filing IT and TDS returns.

In today’s blog, we will discuss the top 13 free income tax filing software for businesses, inspecting their key features, pros & cons, and other major aspects.

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Pro-tip

When choosing income tax software, conduct a thorough evaluation tailored to your requirements. Take into account aspects such as ease of use, compatibility with your systems, and the software's ability to handle intricate tax situations. This approach ensures optimal selection and efficient tax processing.

13 Best Free Income Tax Filing Software

Software NameFeatures
Sales tax management, Inventory management
Revised schedule VI balance sheet for the company
Tax management, Tax filing, Reporting
E-commerce import support, Multi-GSIN
Import/Export data, No data duplication
Roll information forward from last year’s tax return if you prepared the previous year’s return using TaxTron
e-TDS Software, Audit Software
Allows you to do your taxes from anywhere and at any time using any device
Facilitates collaboration so that the firm can work with multiple clients at the same time
The mobile app has a smart camera functionality to let you capture your W-2 data
Imports your federal filing information to compute your state taxes
Enables a non-tech savvy person to file their return online easily, Lets you file the new 1040 form for free
Has intuitive navigation, including a sidebar that keeps track of your progress

1. ClearTax

ClearTax

This free income tax return filing software has it all. ClearTax gives you hands-on experience of filing your returns electronically. All you need to do is sign in through your existing email account and upload your Form 16, and the software will calculate your taxes. Besides, your returns will be ready for submission to the IT department.

In addition, ClearTax also offers assisted services from their in-house experts to those who need a more professional hand in managing their complex returns. Their fees start from Rs. 799 and increase based on the complexity of the return filing process.

Features

  • Sales tax management
  • Inventory management
  • Reporting
  • GST calculating and filing
  • Data import/export
  • E-way bill generation
  • Transaction tracking
Pros
  • Simple and easy-to-use modules
  • Automates calculations and save a lot of time
  • Offers mobile accessibility
  • Provides real time error alerts and suggestions
  • Offers multiple account management
Cons
  • Limited free version
  • Only supports Android
  • Not suitable for startups

2. Saral Tax

Saral Tax

Saral Tax is one of the best GST software for return filing and the best free Income Tax software known for its rich set of user-friendly and innovative features. It is a one-stop solution for all your income tax-related queries.

Chartered Accountants and other tax practitioners find it easy to file their returns through Saral Tax. The software automates most of the tax-related processes and ensures compliance. Lastly, Saral Tax free income tax return filing software offers more than 15 products for income tax filing and returns to make taxpayer’s lives easy.

Features

  • Complete office automation
  • Client management
  • MIS report
  • ITD integration
  • Data import & export
  • Tax suite
  • Direct data interface from Tally ERP
Pros
  • Offers intuitive and user friendly interface
  • Automatically updates features and tax-related information
  • Maintains time-stamped records of tax filing
  • Offers built in error detection mechanism
  • Excellent customer support service
Cons
  • Has only on-campus deployment feature and no cloud support
  • Supports no other payment method other than one-time
  • Does not cater to complex tax scenarios

3. EZTax

EZTax

EZTax is positioned higher among the best free income tax software for calculating IT returns- thanks to its intuitive UI and easy tax filing process. This software is available in 8 countries across the globe.

This ITR preparation software offers GST accounting, income tax e-filing, TDS preparation, among many other such services. In addition, this free income tax return filing software makes tax filing a breeze by auto-reading the uploaded Form 16.

Features

  • Automated Tax Calculation
  • User-Friendly Interface
  • Comprehensive Deduction Options
  • Support for Various Tax Situations
  • Data Importation Functionality
  • Investment Coverage
  • Self-Employment Support
Pros
  • Has an easy-to-navigate interface
  • Offers 30-days free trial for the GST accounting software
  • Responsive customer support service through various communication channels
  • Has built in error checking mechanism
  • Employs robust encryption and security measures
Cons
  • No mobile application for iOS and Mac users
  • Learning curve while adapting to the software’s user interface
  • Susceptible to potential technical glitches

4. Tax Raahi

Tax Raahi

Tax Raahi is a “one size fits all” tax automation solution. It can resolve all client taxing concerns related to GST, ITR, TDS filing on a single platform.

This is one of the best free income tax software solutions enjoys a proven record of being one of the fastest income tax systems in the business. It is about 40% faster than other income tax systems. What’s more, Tax Raahi free income tax return filing software lets you file GST returns and keep track of them in 15 minutes or less.

Features

  • Data Import & Export
  • Automated TAN And PAN Verification
  • Seamless Challan Verification Via OLTAS Integration
  • Automatic TDS Calculation
  • FVU Format Return Submission
  • Simplified Generation Of Form 16, 16A, And More
Pros
  • User-friendly and intuitive interface
  • Offers compatibility with various platforms and devices
  • Streamlines tax preparation and filing
  • Imports data from Tally or Excel
  • Digitally manages tax-related documents
Cons
  • No mobile application
  • Occasional technical glitches and bugs
  • Lacks personalized consulting

5. Winman

Winman

Many regard Winman as India’s No. 1 chartered accountancy software suites. It has many flagship products, including audit report software and balance sheet software. This makes it the best free income tax software.

Additionally, this free income tax return filing software can effectively cater to the needs of Chartered Accountants. It is also known to have revolutionized income tax preparation, tax filing procedures, and also balance sheet computation.

The best part of Winman is that the CA-ERP software is available at no additional cost. It enables the user to have the best tax filing experience.

Features

  • Single Window Income Tax Computation
  • Bulk Import of Previous Year Files With Data
  • Comprehensive XML Data Importation
  • Seamless Excel Copy/paste Integration
  • Paper and E-return Capabilities
  • Automated Carry Forward and Loss Set-off
  • Incomplete Data Entry Warnings
  • Clear Indicators for Mandatory E-returns
Pros
  • User-friendly and intuitive interface
  • Generates detailed and customized reports
  • Allows single-window computation
  • Automates repetitive tasks
  • Maintains audit trail of changes made to financial data
Cons
  • No mobile application support
  • Involves initial investment
  • Compatibility issues with third-party applications

6. TaxTron

TaxTron is a Canada-based tax preparation and income tax filing software. It has made filing income tax returns in Canada a walk in the park. It is compatible with both Windows and Macintosh operating systems.

This best free income tax software is subjected to a rigorous testing procedure to remain compliant with Canadian revenue guidelines.

Features

  • Compliance Management
  • Status Tracking
  • Data Import / Export
  • Data Verification
  • Exception Notification
  • Electronic Filing
Pros
  • Compatible with both Windows and Macintosh
  • Available in multiple languages – English, French, Hindi, and Punjabi
  • User-friendly and intuitive interface for navigation
  • Employs advanced algorithms reducing error risks
  • Utilizes encryption and strict security measures for financial data protection
Cons
  • No mobile application
  • No multi-tier software
  • Limited integration options

7. EASYOFFICE

EASYOFFICE

EasyOffice offers a comprehensive suite for tax computation and management. It simplifies income tax calculation with a single-window interface, facilitates bulk importation of previous year files, and allows seamless data importation from XML files.

Additionally, it boasts a diverse depreciation table, Excel integration for copy/paste functions, and organized Document Maps for filled ITRs. Furthermore, this free income tax return filing software enables paper and e-returns, automated loss set-off, and provides warnings for incomplete data entry, ensuring accurate filings.

Features

  • Single-window Tax Computation
  • Bulk Import of Previous Year Files
  • Seamless XML Data Importation
  • Comprehensive Depreciation Table
  • Excel Copy/paste Integration
  • Organized Document Maps for ITRS
  • Paper and E-return Capabilities
Pros
  • User-friendly and intuitive interface
  • Easily integrates income data with expense tracking
  • Automates tax calculations and deductions
  • Customizes detailed income reports to match specific timeframes
  • Easy to manage finances and plan for taxes
Cons
  • No mobile application
  • Crucial premium features come with a subscription cost
  • Compatibility issues with certain platforms

8. TurboTax

TurboTax

TurboTax by Intuit, is a leading tax preparation and income tax filing software, simplifies filing by guiding users step-by-step through the process. It offers a user-friendly interface, various tax deduction options, and accurate calculations.

Moreover, this free income tax software also covers diverse tax situations, including self-employment and investments, ensuring comprehensive filing support. 

Overall, TurboTax free income tax return filing software enables easy importation of financial data, streamlines the process for individuals and businesses alike, and provides access to tax experts for personalized assistance when needed.

Features

  • Guided Step-by-Step Filing Process
  • User-Friendly Interface
  • Comprehensive Tax Deduction Options
  • Accurate Calculations
  • Support for Various Tax Situations
  • Easy Data Importation
  • Access to Tax Experts
  • Support for Individuals and Businesses
Pros
  • Has APIs to download several W-2s
  • Stores historical information with easy access
  • Provides excellent customer service
  • User-friendly and intuitive interface
  • Offers a robust calculation engine
Cons
  • Not compatible with complex financial situations
  • Limited offline access
  • Add-on fees for various features

9. TaxCloudIndia

TaxCloudIndia

TaxCloudIndia is a product by ClearTax, is a cloud-based tax solution for various problems a CA might face while filing returns. It automates a variety of tasks to save time and effort. This cloud-based income tax software enables you to work from anywhere and at any time as per your convenience.

To ensure a smooth and seamless filing experience, TaxCloudIndia free income tax return filing software keeps abreast of the latest tax regulation changes. Thus, it ranks as the best free income tax software.

Furthermore, it supports all types of income heads and ITR forms, such as income from salary, house property, capital gains, etc.

Features

  • E-Filing of Income Tax Returns
  • Automated ITR Verification
  • TDS Return Filing
  • GST Return Filing
  • Bulk Import/Export of Data
  • Automated Form Generation
  • Challan Verification
  • Comprehensive Tax Computation
Pros
  • Direct e-filing without XML
  • Offers insights and tools for tax planning
  • Keeps detailed audit trail of income data
  • Efficient for importing 26AS
  • Robust integration with third-party solutions
Cons
  • Lack of customer service
  • Complex system set-up
  • Delays in customer assistance, at times

10. TaxAct

TaxAct

TaxAct is an American income tax software, suitable for individual tax registers and professional affiliates. It has both free and paid versions. You can easily file a 1040 form and a state return using the best free income tax software.

It allows you to take the child tax credit, the credit for the elderly or disabled, the earned income tax credit, the education credit, and the credit for child and dependent care expenses. More such features are available in the paid version.

TaxAct’s free version works best for people who don’t plan to claim any deductions or credits other than the earned income tax credit, the child tax credit, or the standard deduction.

Features

  • Multi-user networking
  • Professional Reports
  • Imports & quick data entry
  • Low-cost integrated e-filing
  • Customized setup options
  • Client Manager & Organizers
Pros
  • Offers flexibility to choose refund options
  • Compatible with different devices
  • Imports data from your W-2
  • Quick data entry process
  • Allows easy comparison of current tax return with previous years
Cons
  • Customer service is not very active
  • User interface not visually appealing
  • Limited features in the free version

11. H&R Block

H&R Block

With its easy-to-use interface, H&R Block is one of the best free income tax software in the current markets. It is an ideal solution for filing your returns from your home’s comfort. It even offers help through interview-style questions as a part of its “Guide Me” series.

Moreover, its free version lets you file the new Form 1040 and the new Schedules 1-6. It also allows you to take the child tax credit, the earned income tax credit and the credit for the elderly or disabled just like TurboTax.

Features

  • Online Tax Filing
  • Expert Tax Advice
  • Deduction and Credit Finder
  • Refund Reveal
  • Worry-free Audit Support
  • Mobile Tax App
  • Self-Employed Taxes
  • Refund Advance Option
Pros
  • User-friendly interface with easy navigation
  • Import the W-2 data with ease
  • Offers flexible refund options
  • Helps with easy document management
  • Technical support available 24×7 via chat
Cons
  • Additional fee to get an audit report
  • Not suitable for complex tax situations
  • Highly dependent on the internet

12. TaxPoint

TaxPoint is one of the best free income tax software solutions that has been around since 2011. It has a user-friendly interface that appeals to experienced filers and novices alike.

Besides, if you have prepared your taxes with TaxPoint earlier, you can transfer all relevant information from the previous year’s return. It saves you from the trouble of re-entering relevant information to file the current year’s return.

Moreover, if you filed your returns with another online tax prep service during the previous year, TaxPoint free income tax return filing software allows you to import that return. It auto-populates the relevant information as you file the return.

Features

  • Smart Tax Filing Guidance
  • Comprehensive Deduction Options
  • Enhanced Calculation Accuracy
  • Diverse Tax Situation Coverage
  • Simplified Financial Data Import
  • Business and Individual Support
  • Seamless Expert Assistance Access
Pros
  • Import the W-2 data with ease
  • Lets you file the new 1040 form for free
  • User-friendly interface with easy navigation
  • Customer support available for free via email, live chat, and phone
  • Minimizes error risks with automated calculations
Cons
  • Payment applicable for filing state returns
  • Limited personalization options
  • Learning curve for non-technical users

13. TaxSlayer

TaxSlayer

TaxSlayer is also one of the best free income tax software solutions, which offers both free and paid versions. The free version works best for filing the new 1040 form quickly with its intuitive and user-friendly interface. It allows you to file both federal and state returns for free.

TaxSlayer checks your return for errors and missing data before you e-file to ensure that the IRS processes your return without any delay. It allows you to import your previous year’s return information from other tax service solutions to file your return with ease.

Features

  • IRS inquiry assistance
  • TaxSlayer Simply Free
  • W-2 Importing
  • Deduction Finder
  • Real-Time Refund Status Tracking
  • Audit Assistance
  • Mobile Tax App
  • Self-Employed Solutions
Pros
  • Clean and intuitive interface
  • Offers free technical support via email
  • Imports information from previous tax returns
  • Provides quick refund solutions
  • Guarantees 100% accuracy
Cons
  • Limited free version
  • Add-on fees for various features
  • Learning curve for non-tech users

Summing Up

Income tax filing is a tedious and cumbersome process that can have grave consequences if not done correctly. However, income tax software can make the process of filing taxes and returns a not-so-taxing one! This list of some of the best free income tax software solutions available on the market will help you remain compliant with local tax regulations.

If you are using a solution other than those mentioned above, do let us know in the comments section.

Frequently Asked Questions

Evaluate based on your requirements, considering user-friendliness, and compatibility with your tax situation. Also consider available features, customer support, and online reviews.

Yes, reputable free software ensures security measures like encryption and compliance with tax regulations.

Some free software provides support for intricate tax scenarios. However, understandably, not all free income tax return filing software has premium features like paid software.

Free versions might lack certain advanced functionalities or customer support levels. However, they often cover essential tax filing requirements effectively.

Free versions offer basic features, while paid versions provide additional services, more extensive support, and advanced tax optimization tools for complex situations.

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