The income tax department has promised convenience and faster returns for taxpayers with the launch of the much-discussed revamped portal www.incometax.gov.in on June 7.
According to a statement, the new portal would process IT returns faster. It would also provide a modern, seamless experience to taxpayers.
New features
The total number of income taxpayers in India is more than 1.5 crore. The new portal will offer a bunch of new features including free software and a call center assistance facility. The key features of the new ITR portal are:
– All interactions and uploads or pending actions will be displayed on a single dashboard for follow-up action by the taxpayer.
– Free of cost ITR preparation software would be made available with interactive questions to help taxpayers file returns in ITRs 1, 2 and 4. (ITR 1 is for resident Indians with income up to Rs 50 lakh a year. ITR 2 is for all who are not eligible to use ITR1 such as residents with a source of income outside India. ITR3 is for an individual or a Hindu Undivided Family who has income from proprietary business or are carrying on profession.) Facility for preparation of ITRs 3, 5, 6, 7 would be made available shortly.
– The new taxpayer-friendly portal would be integrated with immediate processing of ITRs to issue quick refunds to taxpayers.
– Taxpayers will be able to proactively update their profile to provide certain details of income including salary, house property, business/profession which will be used in pre-filling their ITR.
– New call center for taxpayer assistance.
– Functionalities for filing income tax forms, add tax professionals, submit responses to notices in faceless scrutiny or appeals would be available on the portal.
✅New, taxpayer friendly e-filing portal of IT Department to be launched on 7th June, 2021 ✅Several new features introduced ✅Free of cost ITR preparation interactive software available ✅New call centre for taxpayer assistance ✅Press release issued :https://t.co/T7gcDeDgEK pic.twitter.com/4O6MckYWjx
— Income Tax India (@IncomeTaxIndia) June 5, 2021
Mobile app
Central Board of Direct Taxes said that the new tax payment system will be launched on June 18, 2021, after the advance tax installment date to avoid any taxpayer inconvenience.
The mobile app will also be released subsequent to the initial launch of the portal, to enable taxpayers to get familiar with the various features.
Tax regime
Beginning in 2020-21 fiscal, the government has offered taxpayers the option to choose a new tax regime under section 115BAC of the IT Act. The new income tax slabs would be for individuals not availing or foregoing certain specified deductions or exemptions while computing total income for tax purposes. Under this, annual income up to Rs 2.5 lakh is exempt from tax.
Download Money9 App for the latest updates on Personal Finance.