It will be a big good news for Income Tax payers, when this becomes a reality.
It will be a big good news for Income Tax payers, when this becomes a reality. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has confirmed that Income Tax payers will soon get pre-filled ITR forms that will make the process of filing returns easier.
Pre-filled ITR forms: What are they and what CBDT chairman has confirmed?
– The I-T department is working on the pre-filled income tax return (ITR) forms. These would be based on tax deducted at source (TDS) details filed with the Income Tax department by the employer or any other entity, as per a PTI report.
– According to CBDT Chairman Sushil Chandra, “You will be getting a pre-filled return form on which we are working because your TDS is with us. So, we are moving towards that direction.”
– “We want to make it (processing of return form) very fast, maybe in a day or a week. That system is also under preparation and it may take a year or so. So that you get a pre-filled form, and you can justify that form is correct. We will accept it,” Chandra added.
Chandra says only 0.5 per cent of cases had been taken up for scrutiny and even these cases have been selected by computer system.”There is no discretion (in selecting income tax-related cases). Our endeavour is to curtail the discretion of tax officials,” Chandra added.