6 benefits of new income tax portal you must know

From 7th June onwards, the new Income Tax portal will have a user-friendly dashboard that will display all interactions, uploads, pending actions to be acted upon by the taxpayers. It will remind the taxpayers about the necessary compliances and provide taxpayers convenience and a modern, seamless experience. Here in this article, you will know about the 6 benefits of new income tax portal.

What is an Income Tax e-filing portal?

The e-filing portal is used by the taxpayers to file their individual or business category Income ITRs and also to raise complaints seeking refunds and other works with the income tax department. The department uses it to issue notices, get responses from the taxpayer and respond to their queries and communicate final orders like assessments, appeals exemption, and penalties among others.

New Income Tax Portal

The Income Tax Department will launch a new taxpayer-friendly Income Tax e-filing portal “www.incometax.gov.in” on 7th June. It will replace the existing www.incometaxindiaefiling.gov.in portal. The taxpayer will now have to file their Income Tax Return (ITRs) and do all other tax-related tasks through the new portal.

Aside from processing income-tax returns faster, the new portal will also provide multiple options such as net banking, UPI, credit card, and RTGS/NEFT from any account of the taxpayer in any bank for payment of taxes.

On 20th May 2021, the CBDT had announced the launch of the new Income Tax e-filing portal through a press release.

Also Read- Last Date For Filing Income Tax Return For AY 2021-22

Benefits of New Income Tax Portal

ITR Processing: The new user-friendly portal will immediately process the income tax return filed by a taxpayer. The fast processing of the income tax returns will enable quick refunds to the taxpayers.

Free ITR Preparation Software: The taxpayers will benefit from the free ITR preparation software available online and offline. The interactive questions available in the software will make the e-filing process simpler.

Call Centre Services: The new web portal is integrated with faqs, tutorials, videos, and chatbot/live agent to address the taxpayers’ queries with immediate responses.

Single Dashboard Interaction: A taxpayer will be able to see all the interactions, uploads, and pending actions in a single dashboard along with the follow-up action.

Multiple Payment Options: A new portal will come along with multiple payment options for a taxpayer, these options include RTGS/ NEFT, credit card, UPI, and net banking via any account of a taxpayer in any bank. It will enable easy payment of taxes.

Mobile Application: A mobile app with all the key functions of the new portal will be enabled subsequently so that the taxpayer can access the app via a mobile network at any point in time.

Also Read-

🎯 AY 2021-22: Section 44AD of Income Tax Act

🎯 AY 2021-22: Section 44ADA of the Income Tax Act

🎯 Tax Audit Limit For AY 2021-22: Know about Tax Audit u/s 44AB of The Income Tax Act

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Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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Compiled by- CA Chirag Agarwal (Practicing Chartered Accountants)

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