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The Income Tax Department has made available a free e-filing tool, often known as software, for the purpose of generating an electronic return and electronically submitting a return. The electronic filing tool that is made available by the Department is simple, intuitive, and comes with its own set of instructions for usage. The filing of income tax returns by taxpayers is made more simpler when they use the electronic filing tool. You may get the utility by downloading it from the website www.incometaxindiaefiling.gov.in.
E-filing refers to the process of electronically submitting a return of income, whereas e-payment refers to the process of making an electronic payment of taxes (such as using net banking or a debit or credit card issued by SBI). The taxpayer may conveniently and swiftly fulfill his responsibilities to pay tax and provide a return by using the e-payment and e-filing facility. This allows the taxpayer to discharge his obligations.
You will, on the other hand, be subject to the penalty and prosecution provisions of the Income Tax Act if you fail to file your return despite having income that is subject to taxation, which is not the case.
Yes, an individual may submit a belated return of income if he was unable to file the return of income on or before the date that was stipulated as the due date. Within a period of one year from the end of the assessment year or before the conclusion of the assessment, whichever comes first, a belated return may be lodged with the appropriate authorities. A return that is submitted after the date that was specified as being due is referred to as a delayed return. However, as of April 1, 2017, a belated income tax return can be submitted for the Assessment Year 2017-18 and onwards at any time before the end of the relevant assessment year or before the completion of the assessment, whichever comes first. This applies to returns that are being submitted for tax years 2017-18 and onwards.
E.g., Belated tax returns may be submitted until the 31st of March, 2018, in the event that income was collected during the fiscal year 2015–2016.
When you file your income tax return, you may request a refund for the amount of tax that was paid in excess. Your money will be repaid to you in the form of an ECS transfer, which will credit your bank account with the amount. The department has been working hard to complete the processing of refund requests as quickly as possible.