By Adv. Aashish Sharma
Filing income tax returns (ITR) is a crucial obligation for every citizen of India who falls under the taxable income brackets. It not only ensures compliance with the law but also helps individuals maintain financial transparency and contribute to the nation's progress. However, many people find the process of filing ITR daunting due to its complexities and ever-changing regulations. In this article, we will explore various ways of filling ITR in India, simplifying the process, and empowering taxpayers to meet their tax obligations with confidence.
Online Filing
With the digitization of government services, online filing has emerged as the most convenient and widely used method for filing ITR in India. The Income Tax Department offers a user-friendly online portal, known as the Income Tax (I-T) website (https://www.incometax.gov.in/iec/foportal/). Taxpayers can register themselves on the portal, select the appropriate ITR form based on their income sources, fill in the necessary details, and submit the return electronically. The website also provides valuable resources such as FAQs, video tutorials, and updates on tax regulations.
Using offline utilities
The Income Tax Department also provides offline utilities that you can download from their website. These utilities allow you to fill the ITR form offline on your computer. Once you have filled in the details, you can generate an Json file, which can be uploaded on the income tax website.
Filing through Authorized Intermediaries
To simplify the tax filing process, the Income Tax Department has authorized certain intermediaries, known as e-Return Intermediaries (ERIs), to assist taxpayers. These ERIs are entities like chartered accountants, tax professionals, and online tax filing platforms approved by the government. Taxpayers can avail themselves of their services by providing the necessary information and documents, and the ERIs will prepare and file the ITR on their behalf. This method is particularly beneficial for individuals who require professional expertise or lack the time and knowledge to file their returns independently.
Pre-filled ITR Forms
To further simplify the process, the Income Tax Department has introduced pre-filled ITR forms. These forms come with pre-populated data sourced from various financial institutions, including banks, mutual funds, and employers.
Taxpayers can download the pre-filled forms from the income tax portal or through authorized intermediaries. By cross-verifying and updating the pre-filled data, taxpayers can save time and ensure accuracy in their tax filings.
Private e-filing portals
Several private companies offer e-filing services for ITR. These portals provide a simplified process for filling the ITR form online. You can register on their websites, fill in the required details, and submit your ITR electronically.
Filing income tax returns is a significant responsibility that every taxpayer in India must fulfil. Filing income tax returns in India is no longer an arduous task thanks to the digital advancements introduced by the Income Tax Department. The availability of online portals, authorized intermediaries, and mobile applications has simplified the process and made it more convenient for taxpayers.
By leveraging these tools, individuals can fulfil their tax obligations efficiently and ensure compliance with the law. Moreover, seeking professional assistance when needed can further streamline the process and provide expert guidance. Embracing these simplified ways of filing ITR will empower taxpayers to stay on top of their tax responsibilities and contribute to the nation's progress.
The writer is the co-founder and litigation head at Lex N Tax.
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