Introduction
CBDT (Central Board of Direct Tax) introduced a new income tax portal on June 7, 2021. The previous e-filing site has replaced the new income tax portal. Individuals wishing to submit their taxes must now use this new gateway. The interface is being updated to make e filing of income tax return easier and remove errors or other challenges. Continue reading to learn about some important elements of the Income Tax Department’s e-filing platform.
What is E-Filing of Income Tax Return?
The process of filing your tax returns online is referred to as e-filing. E-filing, which stands for electronic filing, may be conducted using the income tax website. All taxpayers may utilize e-filing.
Taxpayers benefit from online filing of itr in terms of speed, security, and convenience. It also lessens the pressure on the Income Tax Department and gives a smart alternative to conventional paper filing.
Features of New Portal For E-filing of Income Tax Return
ITR Processing
It is the swift processing of income tax returns that allows taxpayers to respond to tax filings quickly. When a taxpayer files an income tax return, this portal instantly begins processing the returns and provides a prompt refund to the taxpayer.
Returns are Tracked in Real-time
Another notable innovation of the e-filing site is the ability to keep taxpayers updated on the status of their submitted returns. Individuals may now quickly follow the status of their tax returns thanks to the real-time monitoring tool. They are provided with frequent information on the processing progress, refunds, and any further necessary steps, guaranteeing transparency and decreasing the anxiety associated with tax filing.
Interaction with a Single Dashboard
A taxpayer may see all conversations, uploads, and pending activities in a single dashboard and the next action that is to be taken.
Payment Alternatives
The new site provides a taxpayer with several payment alternatives. These choices include RTGS/NEFT, credit card, UPI, and net banking via any taxpayer’s account in any bank. It makes tax payments easier.
Interactive Tax Calculators
The e-filing platform now includes interactive tax calculators to help taxpayers with precise tax planning and estimates. Users may use these tools to assess their tax obligations depending on their income, deductions, and applicable tax rates. Taxpayers may test various situations and prepare their budgets appropriately. Individuals may use calculators to make informed judgments and improve their tax-saving tactics.
Application for Mobiles
A mobile application with all of the new portal’s core capabilities is released. The taxpayer may use a mobile network to use the app anytime.
Call Centre Service
The new webpage has also joined the contact centre services to help taxpayers with their questions. It also offers tutorials, videos, and a chatbot to help taxpayers with possible complications.
Simplified User Interface
The streamlined user interface is one of the most significant enhancements to the e-filing platform. The interface has been overhauled to create a more smooth and intuitive experience for taxpayers. The new design has simple menus and enhanced search capability, allowing users to quickly discover the necessary information and easily execute their tax-related duties.
Introduction of Aadhaar Integration
To improve security and convenience, the e-filing platform has incorporated Aadhaar authentication. Taxpayers may connect their Aadhaar cards to their income tax accounts, allowing for a more secure and convenient login experience. The use of Aadhaar streamlines the authentication procedure while maintaining the confidentiality of taxpayer information, hence boosting the entire security architecture.
Pre-filled ITRs
The new site enables the pre-filling of some income-related information. It might be about salary, home property, business/profession, etc. Furthermore, it allows for the full pre-filling of information such as salary income, interest, dividends, and capital gains. When the relevant entities submit their TDS and SFT statements, the pre-filling will take place.
Final Thoughts
The new income tax portal for e-filing of income tax return is a user-friendly and convenient platform for taxpayers and other stakeholders to file their returns, pay taxes, track refunds, link Aadhaar, and access various other services. The portal also offers free ITR preparation software, pre-filled ITR forms, real-time processing of returns, multiple payment options, and a mobile app. The portal aims to provide taxpayers with a seamless experience and reduce the compliance burden. However, if you still find the portal confusing and struggle to file the tax independently, you can always look for an online tax consultant.