ITR E-Filing to Get Whole Lot Easier: New Technology Said to Offer Pre-Filled Forms to Assessees

Income Tax Return (ITR) E-filing  is w set to get an ditional techlogy boost as entries in forms would be pre-filled by verifying your IT information alrey with department. With this, e-filing of ITR would be greatly techlogy-driven and a lot simpler reby saving time and money.

As per a LiveMint report, taxman has seemingly ben considering introduction of forms which pre-fill entries with data from what is alrey available with folks at department. w, USP of this process is definitely a simple user interface (UI) which even early apters of internet and web should potentially find it easy to use.

Once official, new pre-filled e-ITR forms could also potentially result in an increase in number of people actually using online interface for filing income tax returns; deviating from physical paperwork process that is also in existence parallely with online system of ITR filing.

At this instant, it is t kwn if se pre-filled ITR forms would be me available from this financial year; but as per LiveMint report, once official, process should allow people to directly file taxes based on confirmation or modifying data contained in se forms.

Hence, it only becomes natural for income tax assesses to wonder if physical form of ITR filing would be done away with completely. Also, with pre-filled interface having inputted data before-hnd, people would only be required to look at se and approve; which forms a two-step approach to filing ITRs.

As of w, July 31 is by default last date for filing ITRs for current assessment year and previous financial year. IT department, from time to time, extends this July 31 deline for filing ITR to enable people to complete filing of ir taxes. From last couple of years, process of refunds have become comparatively easier with time taken to process se having reduced considerably compared to legacy systems.

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