E-Filing of ITR: Discovery and evolution of the Online Portal for Filing ITR

Income tax filing in India is now available for every eligible person till 31st July. ITR filing refers to a process that includes filling out a form to convey information regarding a person’s income for an assessment year, based on which the amount of tax that needs to be paid by them to the government will be decided. ITR filing can also be completed online. A whopping 50% of the total ITR filing population makes use of this portal. 

Evolution of E-ITR Filing
The online portal for ITR filing was introduced in September 2004. In 2006, the government made it compulsory for all cooperatives to file their ITRs online. From AY 2013 - 2014, the government mandated all persons with income above 5 lakhs rupees to file their ITR online.

The income tax department has taken certain measures to make the filing process easier. From launching a separate portal for the same to making the form easier, these steps have made this process a hassle of barely seven minutes. Statistics claim that Maharashtra is the leading user of the online portal, followed by Karnataka, Gujarat, and Delhi. Recently the income tax department has launched a lite version of the website, which gives access to only the immediate documents that are required to fill out the form. Despite its success, the rate of growth of the online itr filing portal has witnessed a setback. This setback has been due to a lack of awareness regarding the same. Technologically backward areas account for a good share of the population who are not making use of it.

Who Should File Their Income Tax?
The following categories are eligible to file income tax:

• Any individual whose total income is 5 lakhs or above must file their income tax. They should fill out Form 1, also known as Sahaj.
• Small businesses and cooperatives should fill out Form 4.
• Anu HUF(Hindu undivided family)/residents with assets outside India
• A claimant of any kind of monetary relief or deduction under either section 90 or 90A.
• Every firm and business

How to File Itr Online?
Itr filing online can be done by following the given steps: Step 1: Go on the online portal and register yourself with the Income Tax Department. Step 2: Select the correct form. Choose the form that you need to fill out carefully and wisely. Step 3: Afterwards, proceed to validation and submission of the form.

The last date to file ITR is 31st July. Failure to meet the deadline will lead to the imposition of a fine of Rs.5000.

Advantages of Online ITR Filing Certain arguments are strongly presented in favor of online ITR filing, such as:

• More Convenient and Accurate
  Since the job of the online portal is to ensure that the form is free of errors, it reduces the worry of filling out a form manually without any errors. The rate of accuracy is high in online processes due to the checks and reminders that are sent by the online portal. It is also very time-saving.
• Less Expensive
  It saves money on printing and other financially burdening activities that are associated with itr filing. The error-checking system also helps firms save money on fines.
• Faster Refunds
  People who are expecting the same will now receive their refunds at a much faster pace.
• Increased Job Opportunities
  Online itr filing also increases freelance opportunities as a tax consultant and various other profiles.
• Value-added Services
  Value-added services like emails, sms help maintain track of the application and related activities. They also provide faster updates.
• Accessible
  It is accessible anytime, anywhere, with the sole condition of having a stable network connection.
• Helping Guides
  Many user guides are also easily available for someone new to it.

Conclusion
Income tax filing is important, and every financially active individual should realize the responsibility and abide by the guidelines and deadlines mentioned and set by the income tax department. Since its launch, this portal has gone through a significant transformation. The online tutorials that are provided by the government of India have helped people to understand the working of the department better along with its purpose. Even though gradual and still developing, the launch of the online system has largely been a success.