What You Need to Know About the New Income Tax Portal
On June 7, 2021, the Central Board of Direct Taxes (CBDT) introduced a revamped income tax e-filing portal at www.incometax.gov.in, replacing the previous platform, www.incometaxindiaefiling.gov.in. This transition represents a major upgrade designed to simplify and modernize the process of income tax return filing and related services. This post explores the new portal's features, benefits for taxpayers, and navigation tips for optimally using the system.
New Income Tax E-Filing Portal Features
- Faster ITR Processing
The portal is engineered to enable rapid processing of income tax returns (ITRs), aiming to speed up refund issuance, thus enhancing the taxpayer experience compared to the former system. - Complimentary ITR Preparation Software
The portal offers free ITR preparation tools, including Excel-based and Java-based utilities. Annually, the CBDT updates ITR forms to align with new tax laws. Taxpayers can download these for offline completion or utilize online portal features, leveraging interactive questions to simplify e-filing. - Integrated Call Centre Support
The portal comes with an integrated call centre offering real-time assistance. Taxpayers can access immediate support, browse detailed FAQs, tutorials, videos, and interact with chatbots or live agents for issue resolution. - Unified Dashboard
A centralized dashboard provides a consolidated view of all taxpayer interactions, uploads, and pending actions, aiding in efficient management of tax-related activities. - Variety of Payment Options
The portal facilitates tax payments through multiple methods including RTGS/NEFT, credit cards, UPI, and net banking, accessible via users' bank accounts to enhance convenience. - Mobile App Integration
The Aaykar Setu app, launched in July 2017, supports mobile accessibility, featuring utilities like Ask IT for queries, tax calculation tools, PAN applications, online tax payment, and educational resources via Tax Gyaan. - Pre-filled ITRs
The portal aids tax filing by pre-filling data like salary, property income, and dividends, based on TDS and SFT statements from relevant entities. - Annual Information Statement (AIS)
The AIS presents a comprehensive financial overview, displayed in Form 26AS, with opportunities for taxpayer feedback on displayed data, ensuring accuracy. - Faceless Appeals Centre (NFAC)
The NFAC centralizes the e-appeal process with automated appeals allocation, enhancing transparency and efficiency in handling tax disputes. - Electronic Verification
Returns can be electronically verified through methods such as Aadhaar OTP, net banking, or digital signatures, ensuring secure validation. - Efficient Communication
The portal facilitates digital communication with the Income Tax Department for notices and updates, reducing the necessity for physical interactions. - Bank Account Pre-validation for Refunds
To expedite refunds, the portal allows for pre-validation of bank accounts, ensuring prompt electronic deposit of refunds post-review.
Old Income Tax E-Filing Portal Features
The previous portal (www.incometaxindiaefiling.gov.in) offered several services:
- E-verification of ITRs
- View and address outstanding tax demands
- File audit reports and certificates
- Access Form 26AS for tax credits
- Address tax credit mismatches
- Request refund re-issues and other intimations
- ITR particulars updates and corrections
- Link Aadhaar with PAN
- Lodge grievances and respond to e-proceedings
Essential Updates for Taxpayers
With the portal upgrade, taxpayers need to:
- Re-register Digital Signature Certificates (DSC) due to security updates
- Update user ID and mobile number in their profile
- Link Aadhaar and pre-validate bank accounts
- Reset e-filing vault security options for enhanced protection
The new income tax e-filing portal reflects a major leap in tax administration, offering a streamlined, efficient, and user-friendly experience. Thorough understanding and utilization of the enhanced features can enable taxpayers to manage their tax affairs more accurately and effortlessly.
*EMIs: Equated Monthly Installments*FATCA: Foreign Account Tax Compliance Act
*OECD: Organisation for Economic Co-operation and Development
*GST: Goods and Services Tax