New online tax payment system is being launched on 18th June

New online tax payment system is being launched on 18th June

New online tax payment system is being launched on 18th June

Online Tax Payment System (Photo – istock)&nbsp

Headlines

  • The new website of Income Tax has already been launched.
  • Income Tax Department is continuously launching new facilities for the taxpayers.
  • There are both online and offline ITR facilities for taxpayers.

The new online tax payment system is becoming active from today (June 18). The CBDT had recently said in a statement that the new tax payment system would be launched on June 18, 2021 so that no taxpayer would be inconvenienced. The Central Board of Direct Taxes (CBDT) formulates the policy for the Income Tax Department and the e-filing website is used by taxpayers to file their tax returns and perform other transactions with the department.

According to the CBDT, it may take some time to get acquainted with the new system, so the department requests all taxpayers to be patient, as it is a major change. The new system aims to provide a convenient and modern, seamless experience to the taxpayers. This is yet another initiative by CBDT towards providing ease of compliance to its taxpayers and other stakeholders. A new taxpayer-friendly Income Tax Return (ITR) portal has been launched to enable quick issuance of refunds to taxpayers. The new portal is www.incometax.gov.in.

It also has a free ITR preparation software with interactive questions to help taxpayers in filing ITR 1, 4 (online and offline) and ITR 2 (offline) and facilitate the preparation of ITR 3, 5, 6, 7 is. Taxpayers will be able to proactively update their profile to provide certain details of income including salary, house property, occupation/profession, which will be used in pre-filing their ITR in the new web portal.

Detailed functionality of pre-filing with salary income, interest, dividend and capital gains will be available after the TDS (Tax Deduction at Source) and SFT (Details of Financial Transactions) statements are uploaded (due date June 30, 2021). Facility of filing income tax forms, engaging tax professionals, submitting reply to notices in faceless scrutiny or appeal will be available.


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