ITR e-filing FY 2024-25: What is the benefit of pre-filled ITR forms on the income tax portal

Income Tax Return Filing FY 2024-25: The Income Tax Department has been aiming to make the e-filing of income tax returns easier for taxpayers, and one such step in that direction is pre-filled ITR forms. If you have been filing tax returns, you would know that the ITR forms have been pre-filed on the tax portal for some years now. With pre-filled ITR forms, the Income Tax Department aims to enhance accuracy, encourage timely filing of income tax returns and reduce compliance burden on taxpayers.

Taxes (CBDT) introduces new features in the process to enhance user experience, reduce revenue leakage and ensure full compliance.“The Government has strived to achieve a mature ITR filing process wherein all the information is accurately pre-filled in the form and taxpayers’ role is limited to verification of the information. In order to achieve this level of automation, the CBDT has invested in the technology upgradation, mandated various agencies to share data with CBDT which is filtered and used to prepare a pre-filled ITR,” says Preeti Sharma, Partner, Tax & Regulatory Services, BDO India LLP.

Preeti Sharma explains that till last year, your pre-filled ITR form was automatically capturing the following information:

1. Personal Information, such as name, PAN, date of birth, address, etc.

2. Income details, which have been reported by registered persons in India under a Statement of Financial Transactions such as

   1. Salary, from Form-16 submitted by employers

   2. Interest income, from Banks & Financial Institutions Reports

   3. Dividend income, from Companies & Mutual Funds Reports

3. Tax payment details (TDS, TCS and advance tax)

4. Tax payment details (TDS, TCS and advance tax)