www.incometax.gov.in is the new Income Tax E-filing Portal

Government of India is going to launch new income tax e filing portal www.incometax.gov.in on June 7, 2021. Thus existing portal for the migrations services would remain suspended for department officers as well as general publico for a period of six days from June 1 to June 6.

Officers including AOs, CIT(A) etc. access the information for taxpayers from the portal. Taxpayers also do extensive use of the portal for filing their ITR, checking refund and raising grievance etc. Thus, E-filing Services will remain suspended for 6 Days because of the unavailability of the system for six days and thus officers have also been advised not to fix anything for compliance during those days.

Any hearing or compliance is to be fixed from June 10th only such that taxpayers are given sufficient time to respond via the new system.

Income Tax India New Website E-filing Portal

- Income Tax Dept new e-filing portal http://incometax.gov.in is to be launched on 7 June, 2021. Existing Income Tax E-filing portal http://incometaxindiaefiling.gov.in would not be available to taxpayers/other stakeholders for a brief period of 6 days, from 1 June, 2021 to 6 June, 2021 as per a statement issued by the Income Tax Department.

The CBDT on April 1 notified forms for filing I-T returns for 2020-21 fiscal, and said that due to COVID pandemic and to facilitate the taxpayers, no significant change has been made if you compare to the last year's ITR Forms. The new ITR forms ask taxpayers if they are opting for a new tax regime.

Income Tax slabs - Annual income up to ₹2.5 lakh is exempted from tax. Individuals earning between ₹2.5 lakh and ₹5 lakh will pay 5 per cent tax. Income between ₹5 and 7.5 lakh will be taxed at 10 per cent, while those between ₹7.5 and 10 lakh at 15 per cent. Those earning between ₹10 and 12.5 lakh will pay tax at the rate of 20 per cent, while those between ₹12.5 and ₹15 lakh will pay at the rate of 25 per cent. Income above ₹15 lakh will be taxed at 30 per cent.

Last Date for filing Income Tax returns for Individuals for 2020-21

- The government has extended the due date of filing income tax returns for individuals for the year 2020-21 by two months till 30 September. 

Last Date for filing Income Tax returns for Companies for 2020-21

- The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. CBDT said extension of time limits for Income tax returns is being given for certain tax compliances "to provide relief to taxpayers in view of the severe pandemic".

As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.

The deadline for issuing Form 16 by employers to employees has been extended by a month till 15 July.

The due date for filing the tax audit report and transfer pricing certificate has been extended by a month till October 31 and November 30, respectively. For filing belated or revised return of income, the due date is now January 31, 2022.

Besides, the deadline for financial institutions to furnish the Statement of Financial Transaction (SFT) report has been extended till June 30, from May 31, 2021.