Our Hon’ble Finance minister in her Speech for Atmanirbhar bharat had announced that they are launching Pre-filled ITR’s for the ease of tax payers.
This would specially help salaried employee who only have income from salary.
The pre-filled ITR as the name suggest would itself fill all the details in ITR as available with Income tax department and tax payers has to just check and file the return.
This, is a step to promote tax payers in filing their own Income tax return themselves.
You can read the tweet for the same HERE.
It is important to note that the scheme was already announced in Budget 2020 and was repeated while transparent taxation scheme campaign.
Also, the feature is more or less available from last year and is useful only if you have simple salary income and your employer files proper Form 16.
However, if you don’t agree with Form 16 filed by your employer or want to add some other income or want to claim some excess deduction then this feature won’t help.
Also, this feature sometimes incorporates interest on IT refund in ITR but it is a hit or miss sometimes as many a times even Form 26AS is not properly prepared.
This feature would be great if it incorporates GST turnover in ITR which is now visible in Form 26AS.
If you wish practicing CA to help you in filing your ITR you can book the same HERE
