The procedure to e-file return with form-16 is as follows:

• Step 1: Choose "File It Yourself" and click on the “File ITR Now” option at tax2win.in and upload your Form 16.
• Step 2: After uploading Form 16, Tax2win software will auto-fill the Form 16 data.
• Step 3: Verify your tax computation now and edit if required.
• Step 4: Click the "FILE MY RETURN" button, and you are done!

You can e-file your Income Tax Return even if you do not have Form 16. Salary slips also contain the details of the deductions, which can be used in case Form 16 is unavailable. FORM 26AS and AIS/TIS are mandatory documents to file Income Tax Returns.

If a taxpayer fails to file their Income Tax Return (ITR) by the due date, they may be liable to pay penalties and interest. The penalties for non-filing or late-filing of ITR in India are as follows:

1. Late filing fee: If a taxpayer fails to file their ITR by the due date, they may be liable to pay a late filing fee of up to Rs. 10,000, depending on the delay in filing. The late filing fee for belated ITR, i.e., ITR filed after the due date but before December 31st of the relevant assessment year, is Rs. 5,000. For returns filed after December 31st, the late filing fee increases to Rs. 10,000.
2. Interest on tax liability: If a taxpayer has any outstanding tax liability, interest will be charged on the amount due from the due date of filing until the date of payment. The interest rate is currently 1% per month, calculated from the due date of filing until the date of payment.
3. Loss of certain benefits: If a taxpayer files a belated return, they may lose certain benefits, such as the right to carry forward losses, etc. And in case of failure to file ITR at all, they will not be able to claim TDS refunds, if any.
4. Prosecution: In case of a willful failure to file ITR, the taxpayer may be subject to prosecution under Section 276CC of the Income Tax Act, which can result in imprisonment and/or fine.

Once you are done with e-filing of income tax return, you must:-

• Check your inbox for the provided email id. You will receive an intimation for successfully filing your Income Tax Return and ITR-V (Acknowledgement) attached to the email.
• With a new notification, a revised ITR can only be filed if your original ITR is verified.
• Cross Check all figures thoroughly in your filled ITR form or ITR-V for errors, mistakes, etc.
• Verify the income tax return within 30 days of filing, as Income Tax Return is processed only when ITR is verified. If you fail to verify the return, it will not be considered filed or processed by the Department. You will lose out on income tax refund (if any), etc. Also, you will have to file a new return from the beginning. Read more here.
• If you have a refund in your tax return, you shall receive the same in your bank account within the next few days. It is better to keep tracking your refund status so that you get all the important updates from the department. You can keep checking the refund status from here.

Note: Verifying ITR is an important step. The Income Tax Department will not process your filed Income Tax return unless it is verified . The time limit for verification of Filed Income Tax returns is 30 days. Previously this time limit was 120 days. This new rule is applicable for returns filed on or after 1st August 2022. If you have not verified your tax return, it shall be considered “Invalid,” i.e., null and void. It means that no Income Tax Return has been filed at all.