Income Tax Return: Government Issues Big Clarification On ITR Process—MSN.Com

Clipped from: https://www.msn.com/en-in/money/news/income-tax-return-government-issues-big-clarification-on-itr-process/ar-AARxOOz?cvid=0933ba30edc44d22987327d9f9eead07&ocid=winp1taskbar

New Delhi: Taxpayers, who have filed documents through e-filing account and followed faceless assessment proceedings, do not require e-verification and digital signature, the central government has stated. This has come as the extended due date of Income Tax Return filing on December 31 is approaching.

The ITR form now contains pre-filled details of certain incomes such as salary income and the scope of information for pre-filling is being further expanded.© Debjit Sinha | India.com Business Desk The ITR form now contains pre-filled details of certain incomes such as salary income and the scope of information for pre-filling is being further expanded. “In order to further ease compliance in filing documents, the Govt. has clarified that e-verification and digital signature is not required if documents are filed through an e-filing account in Faceless Assessment proceedings,” the Ministry of Finance has tweeted.

To make tax compliance more convenient, per-filled income tax returns (ITR) have been provided to individual taxpayers. The ITR form now contains pre-filled details of certain incomes such as salary income and the scope of information for pre-filling is being further expanded.

“Pre-filled ITRs to individual taxpayers make filing of ITRs easier and encourage compliance. Initial pre- filled data includes salary income. Scope of data for pre-filling is being expanded to include interest, dividend etc,” Ministry of Finance stated.

More than 3 crore Income Tax Returns have been filed on the new e-filing website of the Income Tax Department as on December 3, 2021. The number of ITRs filed per day is over 4 lakh, Ministry of Finance said in a statement.

The Income Tax Department strongly urges all taxpayers to view their Form 26AS and Annual Information Statement (AIS) through the e-filing portal to verify the accuracy of the TDS and Tax Payments and avail of pre-filing of ITRs. It is important for taxpayers to cross check the data in the AIS statement with their bank passbook, interest certificate, Form 16 a nd capital gains statement from brokerages in case of purchase and sale of equity or mutual funds, the Ministry of Finance said in the statement.

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