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Pros and Cons of Advanced Income Tax Return E-filing 2.0 Portal

Latest Update for New ITR Filing 2.0 Portal

The old web portal of the Income Tax Department i.e. incometaxindiaefiling.gov.in has been replaced by a new and more interactive web portal that is assigned the web address of incometax.gov.in. The new web portal has been launched from June 7 onwards. Here are the changes that have made the new website more interactive and appealing. It is synonymous with the car in place of the bullock cart.

USP of New Web Portal

Changes to Tax Payment

  • In the old income tax regime, tax was paid on the web portal run by National Securities Depository Ltd (NSDL) that would issue a challan number that had to be quoted in the returns. In the new mechanism, taxpayers will be able to make payments on the tax filing website itself so that the amount paid is immediately shown in the returns.
  • Moreover, the domain of paying taxes has been enlarged by encompassing the use of debit cards, credit cards, net banking, and the Unified Payments Interface (UPI). Taxpayers can pay from their account in any bank.

Any Other Major Changes This Year?

Recently, Finance minister Nirmala Sitharaman has introduced the concept of ‘pre-filled returns’ in Budget 2021. Hence from FY21 onwards, the income tax department shall automatically display data and information on various types of incomes you have earned, such as interest, dividends, capital gains on stocks, and mutual funds.

Consequently, This shall allow you to see all the data in one place.
In addition, If there is no big difference between the data gathered by the department and the taxpayer’s returns, the returns might also get processed faster.

Glitches in The New Web Portal of Income Tax

The most simple login is taking 10-15 minutes and even after that, the web pages are getting stuck. This is causing inconvenience to taxpayers.

On June 7, The Government of India launched a new web portal of Income-tax The latest e-filing web portal was successfully launched on 7, June 2021 by the income tax department on the website www.incometax.gov.in. Read more that is expected to improve taxpayer’s experience. However, on ground zero, the malfunctioning on the web portal is degrading user experience (experience of taxpayers as well as chartered accountants).

“We are unable to perform most of the tasks as the website is not working properly. A simple login is taking at least 10-15 minutes and even after that the pages are getting stuck,” said Tarun Kumar, a Delhi-based chartered accountant.

“We are receiving flak from the clients whose foreign remittances are stuck as the website is not working properly. We are not able to issue certificates in Form 15CB which is required for foreign remittances as the link is not opening,” said Prakash Hegde, a Bengaluru-based chartered accountant.

Was any Privilege Being Given to Hospitals and Patients?

The government has given permission to hospitals, nursing homes and covid-care centres to accept more than ₹2 lakh from patients from 1 April 2021 to 31 May 2022 provided PAN or Aadhar Card number Follow this easy guide to check validity of your Aadhaar card online on Uidai.gov.in. As recently, Indian government has deactivated 81 Lakh Aadhaar cards. Read more of the payer is submitted. If the payment was made by someone else, details about their relationship with the patient are required.

Have Filing Dates Been Extended?

The last date for filing returns for individuals for Financial Year 21 has been extended from 31 July to 30 September 2021. However, if an individual’s tax liability exceeds ₹1 lakh, the deadline for paying tax (as opposed to return filing) remains 31 July.

Moreover, The deadline for filing revised or belated returns has been extended from 31 December 2021 to 31 January 2022. For taxpayers who need to have their accounts audited, the deadline has been extended from 31 October to 30 November. The last date for employers to deliver Form 16 is now July 15.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Yash Bapna (Ex-employee)
I hold a degree in law, a diploma in mass communication, and a degree in management. Though I am a lawyer by profession, but writing has always been one of the things that I'm passionate about. View more posts
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