Taxpayers rejoice! Finally e-filing will be paperless

Unless you snail mailed your ITR-V to CPC, Bangalore your Return filing process was not complete. But that is set to change now! The Income Tax Department is planning to make the E-filing process – completely E!

The painstaking process that required the ITR-V to be printed & sent via speed post to CPC, Bangalore was fraught with multiple issues. One, you could not use a trusty courier service – only the post office’s speed post. Then the hassle of printing the ITR-V, and making your only annual visit to the post office and then finally being on tenterhooks about whether the ITR-V has been in fact received by the department was all retrograde.

Our experience tells us a large number of e-filers skipped this very important process, assuming the job was done once their return was e-filed. Whereas the IT Department said that they wouldn’t consider a return filed unless the ITR-V reached them on time. It was unfair, to say the least, to expect every single tax payer to have access to a printing facility and then make the time to go to the post office to send the speed post.

{Many of our tea breaks (we don’t have too many :D) were focused around the futility of this process laid down by the CPC, imagine validating every single e-return against a physical copy}.

We’re glad the process is being done away with and with this the e-filing process will become fully electronic. Now that the returns will not have to be verified by receipt of the physical ITR-V, the refund process is bound to get faster & smoother. It is expected the return shall be verified by sending an OTP to the mobile number of the tax payer and also possibly linking aadhar number to the tax return form.

The IT Department is hoping to get this in place for the tax deadline for FY 2014-15 which will be 31st July 2015.

We’re happy that the process will become fully electronic. Finally!

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