How to file income tax return on the new e-filing portal and its key features

Taxpayers have an choice of including their Chartered Accountants who would have the ability to view the small print and take essential motion on behalf of the taxpayer corresponding to submitting grievances, submitting Type 15CB and so forth. after entry is offered to them by the taxpayers.

The federal government has launched the brand new earnings tax portal as part of its digitization journey and with a view to facilitate ease of compliance for taxpayers.

Some enticing options of the brand new portal are:

• Login to the portal is now Aadhaar and TAN-enabled along with PAN.
• Resetting of password is less complicated now with OTP generated by Aadhaar-linked cell quantity – OTPs to electronic mail have been discontinued.
• Static passwords launched – considerably enhancing ease of working when taxpayers are in low cell community vary whereas want to finish earnings tax transactions which usually require OTPs.
• To assist taxpayers keep away from logging into any phishing web site, facility of including a personalised message below “Your Profile” part appearing as a “Safe Entry Message” on the time of logging in has been activated.
• A complete dashboard has been put in place, enabling taxpayers to determine pending actions, standing of grievance filed, year-wise tax returns, taxes deposited and so forth. Whereas these options had been accessible earlier below completely different tabs, organising the identical below a single dashboard has enhanced the convenience of navigating.
• The “Your Profile” tab has been made extra detailed and consists of edit choice for citizenship. This may be of great assist to taxpayers (particularly Abroad Residents of India) who needed to file a letter with tax officer to replace change of citizenship in PAN database.
• The profile part additionally consists of choice to replace particulars corresponding to financial institution accounts (and tag the checking account the place the refund is to be credited), demat accounts, sources of earnings which will likely be utilized in pre-filling their ITR after essential returns are filed by different stakeholders corresponding to employers, banks and so forth. This may assist taxpayers to keep away from updating such info year-on-year of their tax returns.
• Taxpayers have an choice of including their Chartered Accountants who would have the ability to view the small print and take essential motion on behalf of the taxpayer corresponding to submitting grievances, submitting Type 15CB and so forth. after entry is offered to them by the taxpayers. The taxpayer can also authorize one other particular person to behave on its behalf if the taxpayer shouldn’t be able to appearing on their very own as a consequence of specified causes.
• Taxpayers have an choice to authenticate discover/ order/ letter issued by tax authorities on the house web page of the portal. This may assist them verify that communication acquired is real and stop them from appearing on fraudulent notices.

Submitting of tax returns

As earlier, the submitting of earnings tax returns is out there below each on-line and offline modes. Taxpayers who’ve many information factors to fill in would favor the offline mode, for the reason that timeout interval for one session is 40 minutes.

Under are the steps to file and submit the ITR by the net mode:

1: Log in to the portal (https://www.incometax.gov.in/iec/foportal ) and go to e-File > Earnings Tax Returns > File Earnings Tax Return
2: Choose “Evaluation 12 months”, “Submitting sort”, “Standing” as relevant
3: Choose Proceed in case you are certain in regards to the ITR sort or you’ll be able to click on on “proceed” to assist discover your ITR
4: Upon getting chosen the ITR, choose purpose for submitting & fill the relevant fields of the ITR and make the fee if relevant
5: Click on on preview and submit return
6. Click on proceed to verification
7. Choose verification mode
8: Enter EVC/OTP for e verifying ITR OR Ship the signed ITR V to CPC for verification.

For offline submitting, the JSON utility must be downloaded, since excel/java utility has been discontinued.

Total, the brand new portal offers a refreshing really feel and has offered a wider bouquet of providers below one umbrella. The enhancements offered to the prevailing IT-enabled filings is a welcome transfer. Introduction of chatbot and cell apps would go a great distance in easing compliances and enhancing the taxpayers’ expertise.

(By Saraswathi Kasturirangan, Companion, Deloitte India; Vijay Bharech, Senior Supervisor, and Priyanka Bhutada, Deputy Supervisor with Deloitte Haskins and Sells LLP)