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Benefits of new Income tax e-filing portal for taxpayers

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Recently the I-T department announced that the income tax department will launch its new portal e-filing 2.0, which will be mobile friendly, have pre-filled ITR form and simplified utility on June 7th, 2021. The Income Tax Department also said there will be an “all-new mobile app” and taxpayers will have step-by-step guidance with user manuals and videos. The new e-filing portal will be https://incometax.gov.in  replacing the existing portal https://incometaxindiaefiling.gov.in

Income tax department said that the new e-filing portal is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers. It is another step by CBDT to provide ease of compliance to its taxpayers & other stakeholders,” the Income Tax department tweeted. In preparation for this launch and for migration activities, the existing portal will be unavailable from 1st- 6th June 2021

What is an e-filing portal?

The e-filing portal is used by the taxpayers to file their individual or business category income tax returns (ITRs) and also to raise complaints seeking refunds and other works with the tax department. On other hand, the Taxmen use it to issue notices, get responses from the taxpayer and respond to their queries and communicate final orders like assessments, appeals, exemptions, penalties, among others, on the taxpayers’ dashboard.

You would also like to read: Income Tax Return (ITR) – What is it? Benefits, Slabs, Process, Due dates, Penalties.

Benefits of new income tax e-filing portal:

Check out the features of the new income tax e-filing portal:

1. Taxpayer Friendly: The new portal will be Simple & taxpayer-friendly. The friendly portal may increase in on-time return filings from individuals as well as companies and firms.

2. Quick Response: Will be integrated with the immediate processing of Income Tax Returns (ITRs) to issue quick refunds to taxpayers.

3. Better Dashboard: New portal will give a better dashboard for All interactions and uploads or pending actions. All information will be displayed on a single dashboard for follow-up action by the taxpayer.

4. Free of Cost: This will be fully free and you don’t have to pay anything to use it for ITR preparation.

5. Offline and Online: Free of cost ITR preparation software available offline and online.

6. Pre-filled: it will also provide a facility of pre-filling form, for minimum data entry effort and helps to save your precious time.

7. User Guide: Interactive questions available online or offline to help taxpayers file ITR even without any tax knowledge. With less knowledge of ITR, you will be able to file ITR in just a few clicks.

8. Helpdesk Support: New call center and chatbot for taxpayer assistance for immediate answers to taxpayer query with FAQs, Informative tutorials, Videos, etc.

9. Full Access: All key portal functions on the desktop will be available on the mobile app which will be enabled subsequently for full access on the mobile network.

10. Multiple Payment Options: New online tax payment system on the new portal will be enabled subsequently with multiple new tax payment options such as net banking, UPI, RTGS, NEFT and other modes. And also allow multiple login options

ITR filing deadline:

Usually, as per income tax law, individual taxpayers and non-audit cases filing ITR-1 or 4 are required to file their return for the previous financial year (2020-21), which ends March 2021, by 31st July 2021 and the deadline for companies and firms whose accounts are to be audited is 31 October of the relevant assessment year. 

What are the new ITR filing deadlines?

The government extended the I-T return filing deadline for the financial year 2020-21 and Individuals can now file their tax returns for income earned by 30th September 2021. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30th, 2021.

Deadline for issuing Form 16:

In a circular, the Central Board of Direct Taxes (CBDT) gave relief by a month till July 15th, 2021, the deadline for issuing Form 16 by employers to employees.

The new deadline for filing tax audit report and transfer pricing certificate

The due date for filing the tax audit report and transfer pricing certificate has been extended by a month till October 31st and November 30th, respectively.

What are belated/revised returns and the new deadlines for filing them?

For filing a belated or revised return of income the due date is now January 31st, 2022. Assessee who does not submit a return of income within the deadline is allowed to file a belated return at a later time, with a certain penalty. 

Why have dates been extended?

The dates have been extended to ease the taxpayer compliance burden amid the raging second wave of the COVID-19 pandemic and the restrictions imposed by state governments and local administrations in various parts of the country. The extension of due dates for various compliances for employers as well extension of tax filing due date for taxpayers is important in the current situation because it will reduce the compliance burden for businesses that have been struggling in the current crisis.

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