The Income Tax department has introduced 'Jhatpat Processing' for quicker ITR processing as the last date of filing income tax for FY 2019-20 is approaching.
The Income Tax department introduced the new initiative to smoothen the ITR filing experience for taxpayers. The ‘Jhatpat Processing’ feature will help individuals in filing tax returns quickly in a seamless manner.
'Jhatpat Processing' has started for ITR1 and ITR4. The Income Tax department has shared tutorial videos of compete procedure to file ITR1 and ITR4 under the new initiative on Youtube.
Have you filed your Income Tax Return for AY 2020-21 yet? Wait no more..file TODAY! the department tweeted.
Tax payers can visit http://incometaxindiaefiling.gov.in for details.
The due date for filing ITR for tax payers (not requiring audit) is 31 December, 2020 whereas, for tax payers (requiring audit) is 31 January, 2021. Normally, taxpayers are usually supposed to file ITR by July 31. But, 2020 was an exception due to pandemic covid-19.
The feature can be accessed only by those assesses who fulfil the following criteria laid down by the Income Tax department:
> ITR is verified
> Bank account is pre-validated
> No arrears
> No income discrepancy
> No TDS or challan mismatch
More than 4.06 crore Income Tax Returns for AY 2020-21 have already been filed till 25th of December, 2020, the tweet said.
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