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CBDT Plans On Introducing Pre-Filled Income Tax Return Forms
You may soon get pre-filled income tax returns forms on the department's e-filing website that will make the process easy. According to a PTI report citing CBDT's (Central Board of Direct Taxes) chairman Sushil Chandra, said that the department is currently working on the pre-filled ITR forms that would be based on tax deducted at source (TDS) details that are provided by the individual's employer or other entities.
The simplified form will have declared incomes up to Rs 5 million in a single page document, making filing very easy. The report further said that the IT department was also working on processing the return forms faster. It could become as less as a day or a week. The system is under preparation and may take a year to complete. The pre-filled forms will further help in reducing processing time.
He also said that only 0.5 percent of the cases were taken up for scrutiny and these were selected by a computer system and not the tax officials. Around 70,000 of these cases were disposed of online this year. A person is only required to visit an IT office under exceptional circumstances. The department is also working on providing PAN in as less as four hours.
