Income Tax E-Filing 2.0 Portal: Complete Guide

To simplify and streamline the submission of income tax returns , the Income Tax Department introduced e-filing 2.0, the latest version of the electronic filing system. Armed with various benefits, e-filing 2.0 is an effort by the Central Board of Direct Taxes to simplify the tax-paying process and ensure compliance.The new e-filing system aims to provide a single point of contact for all the services related to income tax and simply the process for taxpayers and stakeholders alike.

Upgraded with several improvements, the e-filing 2.0 portal has features such as enhanced security and faster processing. The sheer convenience and efficiency of the e-filing 2.0 portal have made it popular. Let us understand the features of the new portal in detail.

Easy Registration:

The portal offers users a simple registration process. Apart from a quick and easy process to create your account, the portal allows you to fill out your returns without any trouble.

One-Stop Solution:

A user-friendly dashboard offers you access to all your documents, activities (pending or otherwise), credentials, and interactions without the need for you to navigate through a plethora of webpages.

Pre-filled Forms:

The e-filing portal auto-populates several details such as PAN, salary, bank account information, capital gains, TDS details, and interest income, saving precious time.

Enhanced Security:

The new e-filing 2.0 portal has several enhanced security features to ensure your privacy online. Features such as digital signatures, Secure Socket Layer (SSL) encryption, and two-factor authentication are a few prominent examples.

Faster Processing:

Equipped with a faster processing time compared to the traditional way, e-filing 2.0 allows quick and efficient filing of forms.

Online Payment:

The new e-filing 2.0 portal has several online payment options, making the payment process fast and simple. You have options such as Net Banking, Debit Cards, Credit Cards , NEFT, RTGS , IMPS, and UPI.

E-Verification of Returns:

With e-verification, the portal eliminates the need for a physical signature and saves taxpayer time.

No-cost Filing:

The e-filing portal has simplified the filing process; therefore, you do not need to rely on professional help to file your returns.

Compatibility:

The new filing portal is compatible with mobile devices, making it simple for you to file your returns on your tablet or smartphone.

Dedicated Customer Service:

The new e-filing portal offers a call centre exclusive to help taxpayers. Not only do you have access to support, but you also receive quick responses to any filing-related questions through features such as FAQs, tutorials, chatbots, etc. Also read: Credit, Debit or ATM Card - What's the Difference?

The new e-filing 2.0 offers various services under one roof, making the filing process fast, simple, and seamless. Given below are the services you can avail of on the portal.• Verify your returns without the need to log in.• Link your Aadhaar with your PAN card.• Check your PAN details for accuracy.• Check the status of your income tax returns.• Pay your tax online.• Learn more about tax services.• Authenticate the legitimacy of your order.• Familiarise yourself with the assessing officer of your jurisdiction.• Apply for a new PAN, check your PAN status, or update PAN information.

The process of registering yourself on the e-filing 2.0 portal is simple and hassle-free. The following steps outline the process to register yourself on the portal.1. Visit the official e-filing website: https://www.incometax.gov.in/iec/foportal/ 2. Click on the ‘Register’ tab visible on the right side of your screen.3. Choose your user type (“Taxpayer” and “Others.”) and click on it. Click on ‘Continue’ to proceed.4. Fill in the necessary details such as Name, PAN, Date of Birth, and contact information, including your Email ID and Phone Number. Click ‘Continue.’5. You will receive a One Time Password (OTP) on the registered contact number and email ID. Enter this OTP to verify your contact details.6. Choose a password, security question, and answer.7. Fill in your profile information, including address, bank account information, and Aadhaar number.8. Click on ‘Submit’ to complete your registration.

To link your PAN with Aadhaar on the portal, you need to follow the steps given below.1. Log in to the e-filing portal.2. Under the tab ‘Our Services’ on the homepage, choose the option ‘Link Aadhaar’.3. Type in your PAN, Aadhaar number, name (as per Aadhaar card), and contact number.4. Tick the box that states you agree to validate Aadhaar details. You can click on the box that states only the year of birth to be mentioned on the Aadhaar if applicable. Click on ‘Continue.’5. You will receive an OTP on your registered number. Enter this number and click on ‘Validate.’6. On validation of the OTP, you will receive a notification stating that your request to link PAN to Aadhaar has been noted and submitted. Also read: Unable To Link Aadhaar With PAN? This Is What You Can Do

To check the link the status pre-login, follow the steps mentioned below:1. Log in to the e-filing portal 2.0.2. Under the ‘Our Services’ tab, click on ‘Link Aadhaar.’3. Enter your Aadhaar and PAN number, then click on ‘View Link Aadhaar Status.’4. You will receive a notification that confirms the status.You can also check the status after you log in to your account by following these steps:1. Log in to your account with your username and password.2. You can view your username in the top-right corner of the screen. Click on the username and select ‘My Profile’ from the dropdown.3. The new screen will display your details and the linked status next to the Aadhaar number.

Before filing your tax returns, here are a few key points to keep in mind.• You must calculate your tax from all sources of income as per the relevant tax slab rates.• Select the correct return form for individual taxpayers.• The ITR 1 and ITR 2 forms are available online. However, other forms can be uploaded from an offline XML file.• If you are a new user, ensure to register yourself on the portal by following the steps for online registration.Given below are the steps to be followed to file your income tax returns on the portal.1. Visit the e-filing 2.0 portal.2. Log in to your account with your user ID and password.3. Click on the ‘e-file’ option and select ‘Income Tax Return’ from the list.4. Select important details such as Assessment Year, ITR form name, and Submission Mode (Online or XML.)5. Enter the necessary information such as Personal Details, Income Details, Deductions, and Income Tax Payments. Verify all your information for accuracy.6. Click on the option ‘Preview and Submit.’7. After a thorough verification, click on ‘Submit’ to file your returns.8. You will receive an acknowledgement number on submission, which you can use for future reference.9. You also have the option of verifying your returns through Aadhaar OTP, Bank account, Demat account, and Net banking.The government has introduced a new income tax structure that allows you to select from the old and new tax regime. The newer regime lowers tax rates but also eliminates several exemptions. Additionally, it is essential for you to file your income tax before the designated deadline to avoid penalties. In case of late filing of your income tax returns, you will need to pay a 1% interest per month on any unpaid tax amount under Section 234A. A delay in filing returns will elicit a fee of ₹5000. For individuals with an income of less than ₹ 5 lakh, the fee is ₹ 1000. Also read: New Income Tax Slabs FY 2023-24 (New & Old Regime Tax Rates)

To file your returns using the e-filing portal, you need to meet the following eligibility criteria:

Given below is the information pertaining to the documents you will need to file your returns on the e-filing 2.0 portal.

Mandatory Documents:

PAN card , Aadhaar card (to be linked with PAN card), and bank account details for any due refunds.

Documents for Salaried Income:

Form 16, which is issued by the employer. This form contains details such as salary, Tax Deducted at Source (TDS) , and other essential information. You will also require rental income documents and salary slips for the particular financial year.

TDS Documents:

Form 26AS , or statement of tax deducted from income.

Statements Regarding Investments:

These include documents regarding any mutual funds, fixed deposits, child plans, life insurance , national pension scheme , or ULIPS.

Home Loan Documents:

Documents providing details of any interest or loans paid towards your home.

Capital Gains:

These include documents related to sale or tax paid on stocks, property, or mutual funds .

You can check the status of your tax return filing on the e-filing portal by following a few simple steps.• Visit the e-filing 2.0 portal.
• Login with your user ID and password.
• Click on the ‘View Returns/Forms’ option that can be found under ‘Dashboard.’
• Select the assessment year and form number for your returns. Click on ‘Submit.’
• You can now check the status of your ITR filing from the information displayed on your screen.The helpline numbers for any queries regarding e-filing are given below.For queries regarding the e-filing of tax returns, forms, value-added services, intimation, rectification, refund, etc., taxpayers can contact:1800 103 00251800 419 0025+91-80-46122000+91-80-61464700.Working hours are 8 AM to 8 PM from Monday to Friday and 9 AM to 6 PM on Saturdays.

The new e-filing 2.0 portal comes armed with several advantages in its arsenal.• The new e-filing portal is easy-to-use, hassle-free, and has a user-friendly interface, making it easy to file returns.• With a mobile-friendly design, this portal is easy to access, even on tablets or smartphones.• The portal also comes with the strength of faster processing- leading to faster refunds.• With the benefit of pre-filled details such as PAN, Aadhaar, and bank account, taxpayers can easily file returns.• E-filing 2.0 comes with 24x7 chat bot assistance. This will enable taxpayers to get answers to any query they might have while filing returns.• The portal has a single dashboard for all income tax-related services, including filing, verification, and rectification.The new e-filing 2.0 is a significant upgrade from the previous version and beneficial to taxpayers in several ways. Not only has the procedure become simpler, it has also become more effective, hassle-free, and fast. With the new interface, users can easily access several features with the simple click of a button on the dashboard. The new taxpayer-friendly interface will enable faster submission, processing, and quick refunds for taxpayers leading to a more streamlined tax-filing process.Ready to make the most of your money? Start your tax planning journey now!