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How Technology Is Reshaping The ITR Filing Process

How Technology Is Reshaping The ITR Filing Process

Manual income tax returns filing process involved a lot of human intervention

Fintech platforms are now empowering you to file the ITR in seven minutes

100% digital and no paperwork make online filing a seamless and immediate process

Remember, long queues, heaps of files, months-long preparations for documents and enormous pressure to file ITR by sparing time from other important tasks? Tedious, right! Fortunately, we no longer need to follow this herculean procedure to file income tax returns and the credit goes to the technology advancements.

Technology is a savior that has transformed the entire landscape of filing an ITR, making the process prompt, precise and way more convenient for taxpayers.

Why Offline ITR Filing Was Tedious?

When taxpayers file a manual ITR offline, they have to tackle the torment of accumulating relevant forms and documents from the local Income Tax Department office. They struggle to fill forms without any error that takes rounds of filling and re-filling forms unless they hire a professional.

Then there are long waiting queues which add to their miseries with unexpected waiting time to submit their documents. Afterwards, they receive a copy of the filled form with the receipt stamp that ends the process and their misery as well.

Manual income tax returns filing process involved a lot of human intervention and had the risk of confidential documents falling into the wrong hands. People have to dedicate time to complete this process while encumbering their other significant errands.

Era Of Online ITR: What Gets Changed?

Fortunately, with new-age taxpaying applications have replaced long queues with a few finger taps and unexpected waiting time to a few minutes. Finally, something relieving to know!

Today’s era has most young taxpayers who are fascinated with the convenience that technology has brought to their life and they want this advanced intervention in everything they do, especially considering the mundane ITR filing process.

In this age, operating smartphones is our favorite task, so what can be greater than having an application installed on the smartphone to file ITR where the software reads your documents and automatically takes the process forward. Moreover, these apps keep the registered users updated with day-to-day innovations, new policies, important proceedings and a lot more by pushing notifications.

Get Set Go Filing ITR In 7 Minutes

Yes! Fintech platforms are empowering you to file the ITR in seven minutes. This is fil-labulous! Such portals cut-down the time duration with its smart process features including auto-readable Form-16. E-Filing is way more secure than paper filing as it guarantees confidentiality with no human involvement in document submission.

Unlike the manual process, encryption technology used by these portals puts layers of security to your personal and income details. So, as soon as you upload your documents you get the email on your registered ID, confirming your ITR filing acceptation. Just 7 minutes and here you go completing a tedious task within a few clicks.

Seamless Process

100% digital and no paperwork make online filing a seamless and immediate process. Instructions related to filling Forms and process navigation are visible on the screen for a hassle-free experience even for the users who are not familiar with technology and the internet. Taxpayers have no time or place restrictions to file ITR online as technology facilitates them to initiate or complete the process 24×7 while sitting at any place with internet connectivity.

Interactive mode of filing ITR

Fintech ITR filing portals are extremely interactive as they use Artificial Intelligence features to connect with the users. Chat-bots support assists customers to resolve their queries and grievances on a real-time basis. Taxpayers can promptly acquire the required information from the virtual assistance and can file ITR on-the-go whether they are travelling from the office to home or are on a vacation.

Filing History In One Place

Users need not worry about creating multiple files and folders to organize their documents as e-filing safely store their documents automatically into the registered account. You can refer to these documents while applying for a loan, to show tax records or for any other purpose. A taxpayer can anytime find filing history either in the account or in their device by saving the e-copy of relevant documents.

Ease Of transactions

One can directly make a transaction to pay tax or to deposit the refund while filing income tax returns online. Moreover, there are additional options to file now, pay later or to finalize when you want to make electronic tax transaction from your bank account. Online submitted refunds are comparatively faster than traditional ITR filing process.

In Conclusion

The e-Filing process is building the void in filing income tax returns and encouraging more taxpayers to leverage this dynamic platform in filing instant and error-free ITR. Using built-in validations and electronic connections, e-filling eliminate erroneous document submission, accurately calculate tax return and guides a user to choose the right ITR form and leads users to follow next steps to accomplish the process seamlessly. Hence, technology is playing a crucial role in assisting masses to file ITR with the utmost ease.

Note: The views and opinions expressed are solely those of the author and does not necessarily reflect the views held by Inc42, its creators or employees. Inc42 is not responsible for the accuracy of any of the information supplied by guest bloggers.

Author

Neha Kabra

Community
Project Manager at All India ITR

Her work has been published in ‘Stardust and Fire' and other anthologies and there are videos of her speaking about spoken word art on channels like ‘Witty Feed'. She has earned an MSc in Biotechnology from University of Leeds, United Kingdom, and a BSc in Biotechnology from the University of Mumbai, India

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https://inc42.com/resources/future-government-will-be-as-effective-as-their-technology-investment/
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