As the deadline for filing ITR for the Financial Year 2019-20 or the Assessment Year 2020-21 is drawing closer, the Income Tax Department has come up with the ‘Jhatpat Processing’ feature.
A new initiative, “Jhatpat process” for smooth filing of ITR-1 and ITR-4 with the tagline of “FILE KARO JHAT SE PROCESSING HOGI PAT SE” experience for taxpayers has been introduced by the Department of Income Tax. The ‘Jhatpat Processing’ feature would assist taxpayers to file tax returns seamlessly. The IT department also tweeted about the introduction of the new feature – it has already been launched for ITR-1 and 4 forms, and taxpayers can file their ITR by visiting the e-filing website.
‘Jhatpat Processing’, however, is only possible if the taxpayer’s ITR is checked, bank statements are pre-validated, and no delay or income difference or tax is deducted from the source.
For e-verification of returns, taxpayers can pick one of the following modes: registered mobile number, net banking, Demat account number, bank ATM, bank account number, Aadhaar OTP, and email ID.
How does the ‘Jhatpat Processing’ of filing ITR work?
Before starting filing an Income Tax Return, please ensure that you have the following documents with yourself:
(ii) Employer Form-16 issued
(iii) Form 26AS
(iv) Statement of the bank and
(v) Aadhaar or Enrolment ID Number
What modes are available to file the income tax returns?
There are two ways to file your ITR-1 and ITR-4 (for AY 2020-21) that includes:
1. Offline: Download the applicable ITR form in either JAVA or Excel format according to your convenience, fill it out offline, create the XML, and upload it by logging into the e-Filing portal.
2. Online: Login, plan, and upload a return online to the e-Filing portal.
Process of Filing ITR online
The user must follow the steps below to file ITR-1 and ITR-4 using Online Mode:
(i) Go to the e-Filing Income Tax portal, using the link
(ii) Enter the user ID (i.e. PAN), password, Captcha code and click on ‘Login’ to log in to the e-Filing portal.
(iii) Click either ‘Filing Income Tax Return’ or ‘Returning Income Tax’ under the e-File menu.
(iv) Select “Original/Revised Return” Original/Revised Return “Prepare and Submit Online” Prepare and Submit Online.
(v) Select either “Prevalidated” or “Latest ITR” for the bank account for refund credit and Click on “Continue”
(vi) A Pre-filled Consent will appear after clicking on “Continue” and the check box “I Agree to check all pre-filled data (personnel, income, deductions, bank account, and tax details) and make the necessary changes to report the correct details.” Click the “Continue” button.
(vii) To verify all the ITR data, click the ‘Preview and Submit’ button.
(viii) To add an ITR, click on ‘Submit’ or else you can edit the same.
(ix) E-verify the ITR.
Process of Filing ITR offline
The user must follow the steps below to file ITR-1 and ITR-4 in Offline Mode:
(i) Go to the e-Filing Income Tax site, https://www.incometaxindiaefiling.gov.in/in/infiling.
(ii) On the “Download” menu, click on “IT Return Preparation Software.” Select the appropriate ‘Assessment Year’ and, according to your convenience, download the relevant ITR form in either JAVA or Excel format.
(iii) Go to the “My Account” tab and press “Pre-filled XML download”
(iv) Pick either the ‘Prevalidated’ or ‘New ITR’ bank account for the refund credit. Tap on “XML Download.”
(v) Click the “Continue” button.
(vi) You must install the Downloaded Utility on your computer.
(vii) Search the Imported Pre Filled Information from the ITR utility.
(viii) Validate all ITR form sheets and repair errors, if any, and Measure Tax
(ix) XML Generation and Save.
(x) Enter the user ID (i.e. PAN), password, Captcha code and click on ‘Login’ to log in to the e-Filing portal.
(xi) Under the e-File menu, click on “Income Tax Return”
(xii) PAN will be auto-populated, Select Assessment Year, Select ITR Form Number, Select “Original/Revised Return” Filing Sort, and “Upload XML” Submission Mode.
(xiii) Pick any of the following options to check the return on income tax:
Certificate of Digital Signature (DSC)
And just press “Continue”
(xiv) Attach the XML ITR file and press “Submit”
(xv) E-verify the ITR.
Who can apply for the ‘Jhatpat Processing’ of ITR?
‘Jhatpat Processing’ is only valid with regard to ITR-1 and ITR-4. The processing of this data is now available on the website of http://www.incometaxindiaefiling.gov.in.
Taxpayers are advised to file their income tax returns on or before the due date to discourage interest and late charges, and for swift ITR processing and earliest refund receipt.
What happens if by any chance you miss the deadline of December 31st?
If the taxpayer has a tax obligation in the Income Tax Return, then:
1. Interest u/s 234A will be paid @ 1% per month or part of the month until the date of return of revenue filing.
2. It will also levy a late fee of Rs 10,000 u/s 234F. But if the person’s overall income does not exceed Rs 5,00,000, the value of the late fee must not exceed Rs 1,000.
If the taxpayer does not have any tax responsibility for income taxes, then:
# It will levy a late fee of Rs 10,000 u/s 234F.
# In case the total income of the person is not exceeding more than Rs 5,00,000, then the late fee amount should not exceed Rs 1,000.
The central processing centre 2.0 (CPC 2.0) platform which is now verified by the Income Tax Department is being implemented to provide better taxpayer facilities and to speed up the filing process of the income tax return. It will help taxpayers file ITRs for the financial year 2019-20 (AY 2020-21) (AY 2020-21).
With this newly-updated platform, the tax department is expanding capability and updating techniques to provide better services to taxpayers via predefined forms and to minimize the time for refunds.
(By Kapil Rana, Founder & Chairman, HostBooks Ltd)