Salient features, procedure of the newly launched e-Filing 2.0 Income Tax of income tax is seemingly beneficial for the general public.
Overview
In order to simplify and streamline the process of submitting ordinary income tax returns (ITRs), the Income Tax Department unveiled its new e-filing system(e-Filing 2.0) on June 7 2021. This is just another effort by the Central Board of Direct Taxes (CBDT) to make it simpler for its stakeholders and taxpayers to comply.
The goal of this new e-filing portal is to make the process of filing income tax returns (ITRs) simple and straightforward. The features and advantages of the Income Tax New e-filing Portal are briefly discussed in the current article.
The Objective of e-Filing 2.0
The official website of the Income Tax Department, the Ministry of Finance, and the Government of India is the Income Tax New e-filing 2.0 Portal. The National E-Government Plan’s Mission Mode Project called for the development of the site. This portal’s main goal is to give taxpayers and other stakeholders access to services linked to income tax through a single point of contact.
Services Offered by ITR e-Filing 2.0
The following services are available to taxpayers and other stakeholders through the new e-filing portal:
- e-Verify Return: Check ITRs without entering a portal login
- Link Aadhaar: To e-file a return and learn more about Aadhaar Details, link your Aadhaar with your PAN.
- E-Pay Tax: Online tax payment service.
- ITR Status: Monitor the progress of electronic Income Tax Returns.
- Check PAN: Check your PAN details to make sure they are accurate.
- Understand TAN: Understand Tax Deductor in India.
- Tax Services & Information: Learn more about the Tax Services.
- Authenticate Order Notice by ITD: Determine whether the notice or order is legitimate.
- Assessing Officer: Be familiar with your Jurisdictional Assessing Officer (Know Your AO).
- Instant E-PAN: Update PAN information, apply for a new PAN, or check PAN status.
- TDS on Cash Withdrawal: Section 194N TDS on Cash Withdrawal
- Verify Service Request: confirm the status of the pending service request that ERI started on your behalf.
e-Filing 2.0: Important Announcement for Taxpayer
- During this time, neither taxpayers nor employees of the Income Tax Department will have access to the leaving portal (e-Filing 2.0) (1st June 2021 to 6th June 2021)
- The Department won’t set any compliance dates at this time in order to minimize hassles for taxpayers.
- In order to give taxpayers time to adapt to the new system, the CBDT also advised all officers that they may be ordered to rectify any hearings or complaints only as of June 10 onward.
- The work which is scheduled between any of the assessing officers and the taxpayer must be postponed or preponed.
Features of e-Filing 2.0 Portal of the Income Tax Department
Taxpayers use the e-filing system to submit their individual or corporate income tax returns (ITRs), as well as to submit refund requests and other tasks to the tax department. The new e-filing portal (e-Filing 2.0) aims to give taxpayers convenience and a cutting-edge, hassle-free experience.
- All interactions, uploads, and outstanding activities will be shown on a single dashboard for the taxpayer’s follow-up action.
- This new taxpayer-friendly interface will be connected with the rapid processing of Income Tax Returns (ITRs), allowing for the quick issuance of refunds to taxpayers.
- Free ITR preparation software will be available online and offline with interactive questions to assist taxpayers in submitting ITR even if they have no prior understanding of taxes. The software also includes profiling to reduce the amount of data entering work.
- A new call centre for taxpayer support will be open to provide taxpayers with rapid responses to their questions using FAQs, tutorials, videos, and live chatbots.
- On the desktop, all essential portal features will be accessible.
- To assist taxpayers in understanding the capabilities of the new e-filing portal (e-Filing 2.0), the new portal will provide thorough frequently asked questions (FAQ), a chatbox, videos, and live agents.
- The portal also has a reminder regarding the required compliance, which will nudge taxpayers to finish all outstanding filings.
- Taxpayers can now pre-enter their salary income, interest income, and dividend income, and all gains capital in nature will be shown after SFT and TDS deductions.
- The new portal will also have a brand-new online tax payment system with numerous choices for quick tax payments, including net banking, credit card, UPI, NEFT, and RTGS.
- Subsequently, a new mobile application will also be released, aiding taxpayers in understanding the different aspects of the new portal.
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Benefits of Income Tax New e-filing Portal
As was already mentioned, the new e-filing 2.0 Portal will help taxpayers in a number of ways and make submitting returns quick and simple for them.
• The benefits of the new income tax filing portal include free ITR preparation software for forms ITR-1,4 (online and offline), and ITR-2 (offline).
• The processing of ITs and the newly launched e-filing income tax Portal have been combined, allowing taxpayers to receive their refunds more quickly. The new programme will be user-friendly for taxpayers.
• The new website will also make it easier for people to file their income tax returns, respond to numerous inquiries and appeals, and add tax experts.
• The taxpayers will have access to a single dashboard on the new online tax portal to help them with numerous interactions and uploads. On the new e-filing platform, one can now simply keep track of all of their pending requests.
• The income tax department will open a new call centre in an effort to assist taxpayers and make the filing of taxes simple.
•The taxpayers can update all of their professional information as well as other pertinent business data on this platform, which will be used when filing ITRs.
Steps to link PAN with Aadhaar pre-login on the new e-filing portal
- Log on to the new e-filing portal (e-Filing 2.0).
- Scroll down to the ‘Our Services’ tab on the homepage and click on ‘Link Aadhaar.’
- Enter your PAN, Aadhaar number, name as per your Aadhaar card, and mobile number on the new window.
- Tick the box stating “I agree to validate my Aadhaar details” and, if applicable, tick the checkbox for having only the year of birth mentioned on your Aadhaar card.
- Click on ‘Continue’ to proceed.
- Receive a 6-digit OTP on your registered mobile number. Enter the OTP within 15 minutes on the verification page and click on ‘Validate.’
- Note: You have three attempts to enter the correct OTP. You can request a new OTP by clicking on ‘resend OTP.’
- Once the OTP is validated, a pop-up notification will confirm that your request to link PAN to Aadhaar has been submitted.
e-Filing 2.0: Important points to remember:
- The ‘Link Aadhaar’ service is available on the new e-filing portal’s home page for both registered and unregistered users.
- The deadline to link PAN with Aadhaar has been extended until June 2023. Failure to link before the deadline will invalidate your PAN card.
- Linking PAN to Aadhaar is mandatory as it helps the government track financial transactions and prevents tax evasion.
- Prerequisites for linking PAN with Aadhaar include a valid PAN, Aadhaar number, and mobile number.
e-Filing 2.0: How to check PAN-Aadhaar link status pre-login?
- Log in to the new e-filing portal 2.0.
- Click on the ‘Our Services’ tab and select ‘Link Aadhaar’ from the options.
- Enter your PAN and Aadhaar numbers in the provided spaces.
- Click on ‘View Link Aadhaar Status’.
- A pop-up notification will appear confirming the linkage status of your PAN and Aadhaar.
- Example notification: “Your PAN <SMXXXXXX4T> is linked to Aadhaar number <XXXX XXXX 5246>”
Alternatively, you can check the status of your PAN linkage with Aadhaar after logging in to your personal account.
e-Filing 2.0: How to check PAN-Aadhaar link status post-login?
- Log in to your account using your username and password.
- Once logged in, navigate to the top right corner of the screen where your username is displayed.
- Click on your username, and from the dropdown menu, select the option “My Profile.”
- On the new screen, you will see your personal details along with a “linked” status next to your Aadhaar number.
How to Register on the e-Filing Portal as Individual Taxpayer?
- Visit the official website for income tax e-filing: ‘https://www.incometax.gov.in/iec/foportal’.
- Click on the ‘Register’ button located on the right side of the home page.
- Select ‘Individual’ as the user type.
- Provide all the required details, including PAN number, residential status, etc. Then click on ‘Continue’.
- Enter all the mandatory details such as contact number, current address, etc. After entering the details, click on ‘Submit’.
- Enter the One Time Password (OTP) received on your registered mobile number.
Procedure for E-Filing of Income Tax Return Online 2023-2024
- Step 1: Register on the Income Tax Portal
- Visit the official income tax e-filing portal and register yourself by providing the necessary details such as PAN, name, date of birth, and contact information.
- Step 2: Gather Required Documents and Information
- Collect all the necessary documents and information related to your income, deductions, investments, and taxes for the financial year 2023-2024.
- Step 3: Choose the Appropriate ITR Form
- Select the correct Income Tax Return (ITR) form based on your income sources, residential status, and category of taxpayer. The forms are available on the income tax portal.
- Step 4: Download and Fill the ITR Form
- Download the selected ITR form and fill in the required details accurately. Provide information about your income, deductions, taxes paid, and other relevant details.
- Step 5: Validate and Generate XML File
- Validate the filled-in ITR form to ensure there are no errors or inconsistencies. Once validated, generate the XML file using the utility provided on the income tax portal.
- Step 6: Upload XML File
- Login to your account on the income tax e-filing portal and navigate to the e-file section. Choose the option to upload the XML file and select the relevant assessment year (AY 2023-2024).
- Step 7: Verify and Submit
- Review the uploaded XML file to ensure all the information is correct. If everything is in order, submit the e-filed income tax return.
- Step 8: Acknowledgment and Verification
- After successful submission, an acknowledgment form (ITR-V) will be generated. Download and save it for further reference. Verify the ITR-V either through an Electronic Verification Code (EVC) or by sending a signed physical copy to the Centralized Processing Centre (CPC) within the specified time.
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Eligibility for Income Tax e-Filing
| Conditions Requiring Mandatory ITR Filing | Gross Annual Income (Rs.) |
| Any firm or company | N/A |
| Individuals applying for loans or visas | N/A |
| Individuals with foreign assets or foreign income | N/A |
| Individuals claiming a refund from the Income Tax Department | N/A |
| Individuals earning income from house property or other sources | N/A |
| Below 60 years old | 2.5 lakh |
| 60 years old or above but below 80 years old | 3.0 lakh |
| 80 years old or above | 5.0 lakh |
How to File ITR-1 & ITR-4 using the New e-filing 2.0 Portal?
The following is a discussion of how to file ITR-1 and ITR-4 documents using the new e-filing portal:
• To file an income tax return, the taxpayer must go to the new e-filing portal, select the e-File option, and then log in.
• The filing type, assessment year, submission, and ITR type, manner must now be chosen by the taxpayers.
• Choose the option for status. If you are certain of the ITR type, click on continue. Otherwise, click on Proceed to find your ITR.
• Choose the cause for filing and complete the necessary areas on the ITR
• After the EVC/OTP is given for the ITR’s e-verification, the ITR’s electronic filing process is complete
Income Tax e-Filing Due Dates 2023
| Category of Taxpayer | Deadline for filing tax returns |
| Individual | 31st July 2023 |
| Body of Individuals (BOI) | 31st July 2023 |
| Hindu Undivided Family (HUF) | 31st July 2023 |
| Association of Persons (AOP) | 31st July 2023 |
| Businesses (Requiring Audit) | 31st July 2023 |
| Businesses (Requiring TP Report) | 30th November 2023 |
| Revised return | 31st December 2023 |
| Belated Return | 31st December 2023 |
New Rules for Income Tax e-filing
A new income tax structure has been introduced in the Union Budget 2023, offering taxpayers the choice between the new tax regime and the existing tax regime. The new tax regime eliminates several tax exemptions, but also lowers the tax rates.
Penalty for Late Income Tax e-Filing
| Penalty/Consequence | Description |
| Interest under Section 234A | Taxpayer will have to pay interest at a rate of 1.00% per month or for a part of the month on the unpaid tax amount. |
| Late Filing Fee under Section 234F | A late fee of Rs. 5,000 will be charged under Section 234F for late filing of ITR. For individuals with income less than Rs. 5 lakh, the late fee is Rs. 1,000. |
| Belated Return for Losses | Belated returns can be filed after the due date of ITR filing to claim losses incurred from properties, businesses, stock market investments, mutual funds, etc. |
Helplines Numbers
These helpline numbers can be contacted during the specified working hours for assistance with e-filing of income tax returns, forms, value-added services, as well as queries related to intimation, rectification, refund, and other income tax processing matters.
| Purpose | Working Hours | Phone Number |
| e-Filing of Income Tax Return or Forms | 08:00 hrs – 20:00 hrs | 1800 103 0025 |
| and other value-added services | (Monday to Friday) | |
| Intimation, Rectification, Refund | 08:00 hrs – 20:00 hrs | 1800 419 0025 |
| and other Income Tax Processing Related Queries | (Monday to Friday) | |
| Centralized Processing Center (Phone 1) | +91-80-46122000 | |
| Centralized Processing Center (Phone 2) | +91-80-61464700 |
Conclusion
The newly launched E-portal (e-Filing 2.0) has benefited the public in numerous ways. The procedure to file income tax has also become more simple and easier than it was earlier because of this Eportal facility of income tax filing: https://www.incometax.gov.in/iec/foportal/. This new taxpayer-friendly interface will be connected with the rapid processing of Income Tax Returns (ITRs), allowing for the quick issuance of refunds to taxpayers. Also you can obtain such knowledge regarding the E-filing portal of income tax from Vakilsearch.
FAQ’s
Q: What is the deadline to link my PAN to Aadhaar?
A: The deadline to link PAN (Permanent Account Number) to Aadhaar is June 30, 2023.
Q: What will happen if my PAN is not linked to Aadhaar after the due date?
A: If PAN is not linked to Aadhaar by the deadline, the PAN card will become invalid, and it will not be possible to carry out financial transactions where PAN details are required.
Q: Who needs to link their PAN with Aadhaar?
A: It is mandatory for all individuals and entities who have a PAN card to link it with Aadhaar. This includes resident individuals, non-resident individuals, companies, partnerships, trusts, etc.
Q: Is it necessary to link PAN with Aadhaar for an NRI?
A: NRIs (Non-Resident Indians) are not required to link their PAN with Aadhaar, as they are not eligible to obtain an Aadhaar card. However, they still need to have a PAN card for financial transactions in India.
Q: How can I file my ITR electronically?
A: You can file your Income Tax Return (ITR) electronically by using the e-filing portal provided by the Income Tax Department. The portal allows you to file your ITR online by following the step-by-step instructions.
Q: What is the most common mistake when filing taxes?
A: One of the most common mistakes when filing taxes is providing incorrect or incomplete information, such as inaccurate income details, deductions, or not reporting all sources of income. It is important to double-check the information before submitting the ITR.
Q: Who is exempt from ITR filing?
A: Individuals whose total income falls below the basic exemption limit are exempt from filing an Income Tax Return. The exemption limit varies based on the age and income category of the individual. However, it is advisable to consult a tax professional or refer to the official guidelines to determine if you are exempt from ITR filing.
