SBI launches eFile service for filing I-T returns

State Bank of India (SBI) today launched a new service that will facilitate filing Income Tax returns online.

This service is currently available only to the bank's customers, at a discounted price, SBI said in a statement.

For salaried individuals the fee starts as low as Rs 150, inclusive of taxes, which can be paid by the customer through SBI internet banking or debit card, it said.

"Considering that it is mandatory for individuals earning an annual income in excess of Rs 10 lakh to file their returns online from the current financial year, there is a growing demand for online tax filing services which SBI is trying to meet and provide for its customers through its eFile service," it added.

Apart from salaried individuals, the service is available to individuals who are self-employed, professionals, etc., it said.

For a higher fee, it said, the facility provides enhanced features such as professional review, tracking of tax refund, an online tax vault to store and access tax related documents, online filing using digital signature etc.