CPC 2.0 : The new era of ITR Processing

The Income Tax Department has introduced the ‘Jhatpat Processing’ with the tagline of File Karo Jhat Se, Processing Hogi Pat Se.

The departmenthas introduced a new technologically upgraded platform CPC 2.0 for faster processing of ITRs. The Jhatpat Processing has already started for ITR-1 and 4 and you can file your Income Tax Return for Assessment Year 2020-21 by visiting https://www.incometaxindiaefiling.gov.in/.

It may be important to note that the Processing will be faster if following conditions are met :

• ITR is verified
• Bank Account is pre-validated
• No Arrears
• No Income Discrepancy
• No TDS or Challan mismatch

FORM ITR I Sahaj is for individuals being a resident (other than not ordinarily resident) having total income up to Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest, etc.), and agricultural income up to Rs.5 thousand and Not for an individual who is either Director in a company or has invested in unlisted equity shares.

FORM ITR-4 Sugam is for individuals, HUFs and Firms (other than LLP) being a resident having total income up to Rs.50 lakh and having income from business and profession which is computed under section 44AD, 44ADA or 44AE and not for an individual who is either Director in a company or has invested in unlisted equity shares.  

With this new upgraded platform, the tax department is expanding capacity and upgrading techniques to provide better services to taxpayers through predefined forms and to reduce time for refunds.

  Report