Income Tax Return: The last date for filing Income Tax Return (ITR) is December 31, 2021, that is, taxpayers have about one and a half months more time for this. Experts say that as soon as possible, you should file your ITR. Income Tax Department has urged taxpayers to file ITR (Income Tax Return) at the earliest. Keeping in mind the facilities of the taxpayers, the government has launched a new income tax portal. These facilities have been given to the taxpayers in the new tax portal.
Features of the new IT portal
- Apart from PAN, in the taxpayer portal, you can also login through Aadhaar card.
- It is now easier to reset the password. OTP is received on the mobile number linked to Aadhaar.
- Static Password Generating Facility – This facility is useful for those people who have weak internet connection or who do not have access to mobile phone. Such taxpayers find it difficult to get OTP or EVC. Such people can generate a static password and use it for verification.
- The facility has been provided to help the taxpayers avoid logging into any phishing website. Taxpayers have been given the facility to add a personalized message to act as a “Secure Access Message” under the “Your Profile” section at the time of logging in.
- A comprehensive dashboard has been provided, in which taxpayers have been given the facility to identify pending actions, status of complaints filed, year-wise tax return, tax deposited etc. While these features were earlier available in separate tabs, organizing it under a single dashboard would make it easier to navigate.
- The “Your Profile” tab has been expanded and includes an option to edit citizenship. This is helpful for those taxpayers (especially Overseas Citizens of India) who had to write a letter to the tax officer to update the change of citizenship in the PAN database.
- Taxpayers have the option to add their Chartered Accountant. Once the taxpayers give them access, they will be able to view the details and take necessary action on the part of the taxpayer like filing complaint, filing Form 15CB etc. The taxpayer can authorize any other person to act on his behalf, if the taxpayer is not able to act on his own due to certain reasons.
ITR Filing: File ITR today, do not wait for December 31, otherwise it will be heavy on your pocket
Tax return filing process
As before, the facility of filing Income Tax Return is available both online and offline. Taxpayers who have multiple data points to fill should file through offline mode. Because in this the timeout period for one session is 40 minutes. Note that before starting the process, keep your key documents – previous year returns, bank account details, Form-16 and Form 26AS handy as you will need these details while filing ITR. The complete process to file and submit ITR through online mode is explained here in a step-by-step manner.
- Log in to the portal (https://www.incometax.gov.in/iec/foportal). Register yourself if you have not already registered. Your PAN will act as your User ID.
- After logging in, go to e-File > Income Tax Returns > File Income Tax Return.
- Select “Assessment Year”, “Filing type”, “Status” as applicable.
- If you are confirmed about the ITR type, then tap on Continue. If not confirmed then you can click on “proceed” for help in finding ITR.
- Once you have selected the ITR, choose the reason for filing and fill the applicable fields of ITR and make the payment.
- Click on Preview and submit the return.
- Click on Proceed for verification.
- Select the verification mode.
- Enter EVC/OTP for verification of ITR or send signed ITR V to CPC for verification.
For offline filing, the JSON utility needs to be downloaded, as the Excel/Java utility has been discontinued.
(Saraswati Kasturirangan, Partner, Deloitte India; Vijay Bharech, Senior Manager, and Priyanka Bhutada, Deputy Manager, Deloitte Haskins & Sales LLP)
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