Corporate Employees e-FilingProcess
- Register, set up your profile & upload Form 16
- Our dedicated expert calls you to discuss your taxes
- Our expert then prepares & shares your tax summary
e-Filing Advantages forEmployers & Employees
- Ensure employees across locations have access to tax preparation services at all times.
- Reduce your involvement with employees getting mapped to our experts based on complexity.
- Receive timely and accurate statistics on the number of employees availing our services with their feedback.
- Reduce costs associated with printing Form 16s
- Add value to an employee’s well-being, helping with employee retention.
- 24/7 Cloud access to a central repository for employee to download their tax documents
- Highly secure portal with advance encryption technology to ward off any hacking threats
- Year-round access to dedicated tax professionals
- Assist employees file their past year delinquent taxes to make them fully tax compliant.
Form 16 – Issued by the employer
Form 16A – Tax deducted by banks on interests
Home loan and/or HRA receipts
Documents of investments for Tax saving
Few Important documents that one must have while e-filing tax returns are as follows:
- Form 16 – Issued by the employer
- Form 16A – Tax deducted by banks on interests
- Form 26AS
- Home loan and/or HRA receipts
- Documents of investments for Tax saving
There are few more documents that will be applicable depending on the complexity of the return
Yes, provided the original return has been filed before the due date and your assessment has not been completed. It is expected that the mistake in the original return is of a genuine and bonafide nature and not rectification of any deliberate mistake. However, a belated return (a return filed after the due date) cannot be revised.
Return can be revised within a period of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. e.g., In case of income earned during FY 2016-17, the due date of filing the return of income (considering no extension) is 31st July, 2017. If the return of income is filed on or before 31st July, 2017 then the return can be revised up to 31st March, 2017 (assuming assessment is not completed by that date). However, if return is filed after 31st July, 2017, then it will be a belated return and a belated return cannot be revised.
Yes, if one could not file the return of income on or before the prescribed due date, then he can file a belated return. A belated return can be filed within a period of one year from the end of the Assessment Year or before completion of the assessment, whichever is earlier. Return filed after the prescribed due date is called as a belated return. A belated return attracts interest and penalty. Interest is charged @1% from the end of return filing deadline till the date of filing return. A penalty of Rs. 5,000 can also be imposed. From AY 2018-19 the taxpayer, with income exceeding 5 lakhs, who does not file taxes within the due date of 31st July 2018 will have to pay a late filing fees of Rs 5,000 and of Rs 10,000 if he files his taxes post 31st December 2018.
e.g. In case of income earned during FY 2016-17, the belated return can be filed up to 31st March, 2018. However, if return is not filed by 31st March, 2018, penalty under section 271F up to Rs. 5,000 can be levied. If the return of income is filed on or before 31st July, 2017 then the return can be revised up to 31st March, 2018 (assuming assessment is not completed by that date). However, if return is filed after 31st July, 2017, then it will be a belated return and a belated return cannot be revised.
Although this year 31st March 2018 was the last date to file returns for FY 2015-16 and 2017-18. The period to file belated returns was restricted until end of Assessment Year.
Filing of tax return is every taxpayer’s duty and earns you the dignity of consciously contributing to the development of the nation. Apart from this, your Income Tax Returns validate your credit worthiness to financial institutions and make it possible for you to access many financial benefits such as bank credits, etc.
Also, if you do not file your returns then you will face difficulties in the following
- Processing loans e.g. home loans where ITR is a proof of income
- Getting VISA where ITR is a document required to be submitted
- Claiming your refunds if any
- Claiming any brought forward losses from past years’ against this year’s income