The Income Tax department today launched new portal for filing of Income tax Return www.incometax.gov.in
This new portal will substitute of existing portal www.incometaxindiaefiling.gov.in. In this new portal, all the transaction information is linked to PAN. So Department will be having all information related to your income from all financial institutions, banks, nbfc, demat accounts. The below income & transactions will be reflected in your new portal:
- Your salary income from all employer during the year.
- Your interest income from your saving bank accounts, fixed deposit accounts, recurring deposit accounts and other interest income from corporate deposits as well irrespective of the fact that tds has been deducted or not.
- Your dividend income from mutual funds, shares and securities held in your demat accounts.
- Your insurance maturity receipts from Life insurance company and general insurance company which include your claims as well.
- Your any other income which includes business receipts on which tds has to be deducted and deposits like commission income, interest on unsecured loans.
- Your Property transaction details like sale of property and purchase of property in India having value more than Rs. 50 Lacs.
- Your GST Sale from GST Portal is also being reflected in Form 26AS.
The income tax department has already data exchange information agreement with all other department like GST Department, State Revenue Department for property transaction details, Stock Exchange and Commodity Exchanges.
So No information can be escaped from Income tax department now a days. So it will be better to engage professional firms or CA for filing of Income tax return instead of filing by yourself through online websites so that tax filing can be done with proper tax planning and tax calculation.
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