New ways to apply for ITR
Importance of Filing ITR Filing Income Tax Returns (ITR) is not just a legal responsibility but also a way for individuals to contribute towards nation-building. An ITR serves as proof of income and can be useful for securing loans, visas, or government benefits. With the government pushing for digital transformation, the process of filing returns has become faster, more secure, and more user-friendly.
Evolution of the ITR Process
In the past, filing returns often involved long queues, paperwork, and reliance on tax consultants. Today, the scenario has changed drastically. The Income Tax Department has introduced innovative methods and technology-driven tools to make the process seamless. These advancements not only save time but also ensure accuracy, helping taxpayers file their returns with ease.
Online Portals and Mobile Apps
Filing Income Tax Returns has become much simpler with the introduction of online portals and mobile applications. Traditionally, taxpayers had to manually fill out lengthy forms or depend on third-party agents. Now, individuals can complete the filing process from the comfort of their homes. The department has also introduced a pre-filled ITR facility where details such as salary, interest income, and tax deductions are auto-populated, reducing the chances of errors and saving time.
Aadhaar-Based Authentication and Quick E-Verification
Another significant development is the introduction of Aadhaar-based authentication and quick e-verification methods. Taxpayers can now verify their returns instantly through OTP on Aadhaar-linked mobile numbers, net banking, or Demat accounts. Additionally, APIs have been enabled for financial institutions, allowing smoother data exchange and greater accuracy in tax filing. These initiatives not only simplify compliance but also encourage more people to file their returns on time, thereby increasing transparency and efficiency in the system.
