Looking at the possibility of filing your income tax online, this has been made easier and quite efficient. The Income Tax Department regularly relieves its systems to ease the process for the taxpayers. Here is the current information to assist you when filing your taxes this year. In this blog, we are also going to guide you in finding income tax filing near me.
Excel Utility for ITR-7 Available
Assessment Year 2024-25 Excel Utility for filing ITR-7 is available now. This utility is specifically developed for taxpayers filing ITR-7 which is for trusts, political parties and others. The Excel Utility helps you in the completion of your financial information input and also in the filing of the correct tax returns.
List of Banks for e-Pay Tax Service up to 2018
The Income Tax Department has now provided information on the banks approved to support the e-Pay Tax service. This service enables a taxpayer to make payments on taxes online using the facility of net banking offered by the bank/ debit or credit cards. The fresh list deals with some of the nationalised major banks, private sector banks, and some of the international banks. Such expansion guarantees that as many people as possible can easily pay taxes through the Internet.
The Old Tax Regime vs. the New Tax Regime Information
For the Assessment Year 2024-25, the taxpayers are allowed to have the option of either opting for the old tax regime or the new tax regime. The previous tax laws permit several adjustments and exclusions, which are not available in the new tax rates but come with lower percentages. The Income Tax Department has uploaded data and comparisons for the convenience of the taxpayers to make their own decisions. This makes sure that you are in a position to select the tax regime that is most favourable for you financially.
New e-Verification System
This new method of verification is faster and more secure than the previous one and it is called e-Verification. Following the filing of a tax return, you can use methods such as Aadhaar OTP, net banking, or a Demat account to check the return. This does away with the process of physical audit and also expedites the returns processing of your taxes.
Simplified Pre-Filled ITR Forms
The Income Tax Department has released pre-filled ITR forms to facilitate taxpayers with the option of simpler forms. These forms pre-complete the basic details such as monthly salary, interest income, and tax deductions as per the data given by your employer, banks, and other financial institutions. This minimizes the possibility of making errors in the filing of taxes thus making the process faster.
Enhanced Helpdesk Support
The assistance for filing income tax returns has been improved through helpdesk support. That is why taxpayers can now reach out for help through the phone, email, and live chat. The support team is always ready to assist in case of any complications or questions touching on taxation, hence giving you a smooth run in filing your returns.
For optimum ease of filing the Mobile App is recommended.
Now there is a mobile application to file income tax returns. With this app, you can eFile your returns, track the status of your return and even pay your taxes from your mobile phone. The app is simple to use and is created to bring tax preparations to the masses and this means that the application is created for even the less tech-savvy individuals.
Regular Updates and Notifications
The Income Tax Department frequently delivers circulars and messages to taxpayers. Such information includes the notification of due dates, features, and alterations in the tax laws in that specific year. This way, you will be able to meet all the rules of taxation and thus do not get into an unfavourable situation.
Improved Security Measures
To ensure that the taxpayers’ data is well protected, there has been an improvement in the security features in place. Such measures are encryption, use of multiple-factor authorization, and security checkups. This ensures that your identity and other vital details that are required when filing for taxes online are well protected.
User-Friendly Website Interface
The Income Tax Department has updated its website to increase the ease of use of its interface. The new interface is very user-friendly with clear instructions and helpful resources being immediately visible. This makes it easier to find information by the taxpayers and ensure that they fill their returns correctly.
Conclusion
In case you need professional help in filing for taxes, and are in search of income tax filing near me, you can engage the services of Sap Tax Hub LLP. Their competent staff will assist you in understanding the various laws and regulations on taxes and assist you in filing your returns on time and correctly. This is what makes them one of the best CA firms in Delhi.
