Can I file my income tax returns after the due date?

Yes, you can file tax income tax returns after the due date upto end of assessment year (e.g. for FY 2007-2008, last date is upto 31-March-2009. Read on to find how you can file income tax returns after the due date and what could be impact of late filing.

DUE DATES for filing income tax returns:

Assessee Type	Due Date
A company	30-Sep-YYYY (e.g. for FY 2007- 2008, due date is 30-Sep- 2008)
A person other than a company whose accounts are required to be audited under the IT Act or any other law
A working partner of a firm whose accounts are required to be audited under the IT Act or any other law
A person other than a company, as referred above	31-Oct-YYYY
Any other taxpayer	31-Jul-YYYY

Note: If the last day for filing returns is a day on which the income tax office is closed, you can file the return on the next day afterwards on which the income tax office is open and, in such cases, the return will be considered to have been filed within the specified time limit/ due date.

HOW TO FILE AFTER DUE DATE?

Filing income tax returns after the due date is no different than filing it before the due date. The process and guidelines remains exactly the same. You can prepare and file your tax returns online or off-line (using paper returns).

Click for a step by step guide to prepare income tax returns online

Click to know the process for online filing of income tax returns

IMPACT OF LATE FILING

1. Interest: You will be liable for penal Interest u/s 234A @ 1% per month on the amount of tax due from the due date of filing returns.

2. Carry Forward of Losses: Losses like Business Loss (speculative or otherwise), Capital Loss (short term or long term), and Loss from owning and maintaining race horses are not allowed to be carried forward. Other losses, if any can be carried forward.

3. Deductions: Deductions u/s 10A, 10B, 80-IA, 80-IAB, 80-IB and 80-IC are not allowed

4. Revision: Late returns cannot be revised except if it is in pursuance of a notice under section 142(1)

5. Penalty: A penalty of Rs.5000 may be imposed u/s 271F if belated return is submitted after the end of assessment year (after 31-March-YYYY, e.g. for FY 2007-2008, end of assessment year is 31-March-2009).

How to eFile Income Tax Returns in India?

The Income tax department recommends that tax payers should file their income tax returns online. The online filing facility offers great convenience, can be used from anywhere and anytime across the globe. No more queues to submit your IT returns.

Many of our users have been asking questions about how to avail online filing. So, here it is, a simple and helpful presentation on "How to file your income tax returns online".

How to eFile Income Tax Returns in India

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eLagaan User Guide

eLagaan offers the most convenient way to prepare and file income tax returns in India. Our endeavour is to ensure that both, a layman and a tax professional , should be able to prepare their tax returns with ease and without any external help.

Find out yourself, how easy it is to use eLagaan for preparing and filing income tax returns in India.

User Guide to Prepare Income Tax Returns (ITR) in India

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How do I pay my income tax online?

You can now pay your income tax online. Here are few steps to follow for making online tax payments.

Q. What is the procedure for paying taxes online?
A. Follow these steps to pay tax online:-

Step 1
a) Click here to open online tax payment page of NSDL
b) Click on Please Click Here link located towards bottom of the page (you need to have an account with any of the listed Banks on this page, to avail online tax payment facility)
c) Select the required challan (For payment of income tax, select challan no. ITNS 280)

Step 2
After selecting the required challan, you will be directed to the screen for entering the following data:-
a)Select box "0021 Income-tax" if you are an individual or box "0020 Corporation-tax" if you are paying taxes for a company
b) PAN of the taxpayer
c) Name and address of the taxpayer
d) Assessment Year
e) Type of payment (e.g. "100 for advance tax payments" , "300 for self assessment tax payments")
f) Select the bank name from the drop down provided

Please ensure that you enter PAN correctly, as this is extremely important for further processing. The system will check the validity of PAN. In case PAN is not available in the database of the Income Tax Department then you cannot proceed with the payment of tax.

Step 3
After entering all the above detail, click on PROCEED button. The system will display the contents you have entered along with the “Name” appearing in the Income Tax Department database with respect to the PAN entered by you.

Step 4
You can now verify the details entered by you. In case you wish to modify any details, click on EDIT. To move further, click on SUBMIT button. You will be directed to the net-banking site provided by your bank.

Q. What is the procedure after being directed to the net banking site of the bank?
A. You will have to log on to the net banking site of your bank using your login ID and password/PIN provided by the bank. The details entered by you while filling up the challan will be displayed again.

You will now be required to enter the amount of tax you intend to pay and also select your bank account number from where you intend to pay the tax. After verifying the correctness, you can proceed with confirming the payment.

Q. What will happen after I confirm the payment of tax at my bank’s site?
A.Your bank will process the transaction online by debiting the bank account indicated by you and generate a printable acknowledgment indicating the Challan Identification Number (CIN). You can verify the status of the challan in the Challan Status Inquiry using CIN after a week of making payment.

Q. What is Challan Identification Number (CIN) and what is its relevance?
A. Challan Identification Number (CIN) has three parts
a) Seven digit BSR code of the bank branch where tax is deposited
b) Date of Deposit (DD/MM/YY) of tax
c) Serial Number of Challan

CIN is used to uniquely identify the tax payment. CIN has to be quoted in the return of income as a proof of payment. CIN is also to be quoted in any further enquiry.

PAY YOUR INCOME TAX ONLINE NOW

How to Apply for PAN card in India

You can now apply for a PAN (Permanent Account Number) card online in India. We have tried to answer few queries about the PAN card here:

Q. What is a PAN?
A. PAN (Permanent Account Number) is a ten digit alphanumeric number issued by Income Tax Department. This is issued in form of a laminated card (called PAN card).

Q. Who must have a PAN?
A. All tax payers who are required to furnish Income Tax Return should have a PAN.
All persons intending to enter into financial transactions, where quoting of PAN is mandatory must also obtain PAN.

Q. Can I have more than 1 PAN?
A. No. Having multiple PAN for same person or company is against the law

Q. How do I apply for PAN?
A. You need to fill up Form 49A and apply for PAN. You can apply for PAN online or offline. Click here to apply for PAN online. Alternatively, you can submit the completed Form 49A at IT PAN Service Centre or TIN Facilitation Centre.

Q. What documents are required with PAN application?
A. 1. For Individual applicants need to affix one recent, coloured photograph (Stamp Size: 3.5 cms x 2.5 cms) on Form 49A
2. Proof of Identity: Copy of school leaving certificate or matriculation certificate or degree of a recognized educational institution or depository account or credit card or bank account or water bill or ration card or property tax assessment order or passport or voter identity card or driving license or certificate of identity signed by a MP or an MLA or a Municipal Councilor or a Gazetted Officer
3. Proof of Address: Copy of electricity bill or telephone bill or depository account or credit card or bank account or ration card or employer certificate or passport or voter identity card or property tax assessment order or driving license or rent receipt or certificate of address signed by a MP/ MLA/Municipal Councilor / a Gazetted Officer

To know more about PAN, visit our PAN Card FAQ. .

APPLY FOR YOUR PAN CARD NOW (takes you to govt. site).

eLagaan supports Go Green Initiatives

We at eLagaan support the Go Green Initiative and strongly recommend all our members to encourage this. Let us help conserve the natural resources, so that our children can enjoy good living standards. Together we can make a difference.

Did you know: For every ton of paper that is recycled, the following is saved: 7,000 gallons of water; 380 gallons of oil; and enough electricity to power an average house for six months

So eFile your income tax returns and say NO to paper returns.

To know more about GO GREEN initiative, click here

eLagaan is Carbon Neutral

eLagaan is a carbon neutral website. Becoming carbon neutral means that we have obtained a carbon offset to balance out any greenhouse gas emissions we create by running our website and back office operations.

We hope to continue our efforts to make the earth a better place to live. To learn more about carbon offseting or going green visit http://en.wikipedia.org/wiki/Carbon_offset

Take a Quick Tour

eLagaan is gaining popularity for preparing and filing income tax returns online in India. Thanks to all our members for their support and feedback. It is our endeavour to make preparing and filing of income tax returns a child's play. Moreover, its completely FREE.

Take a quick tour to find why eLagaan is the most preferred place for preparing and filing income tax returns (itr) in India and we are sure you will also join the revolution.

Discover why eLagaan is the most preferred place to Prepare & File Income Tax Returns (ITR) in India?

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