In line with its promise to make the process of filing tax returns less cumbersome, the tax department has started providing pre-filled XML files with details such as salary income, capital gains from securities, bank interests, tax deductions and dividends.
During her maiden Budget speech earlier this month, Union Finance Minister Nirmala Sitharaman had said that the pre-filled ITRs would not only significantly reduce the time taken to file a form but also ensure accuracy of the reported data. “Pre-filled tax returns will be made available to taxpayers which will contain details of salary income, capital gains from securities, bank interests, and dividends, etc. and tax deductions,” she had said.
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An update on the official website read, “Currently, pre-filled XML is available for ITR 1, 2, 3 and 4 for FY 2018-19. For other ITRs, it will be available shortly.”
Individuals can file their tax return either using the online platform on the e-filing website, http://www.incometaxindiaefiling.gov.in or by filling the details in the excel utility downloaded from the e-filing website and uploading the same on the e-filing website.