E-filing of income tax returns refers to the process of filing ITR (Income Tax Return) online. In other words, it is the process of submitting your tax returns electronically.

Following are the documents required for filing ITR:

• Form 16
• Bank interest certificates
• TDS certificates and Form 16A
• Annual Information Statement
• Proofs of tax-saving investment
• Capital gains statement
• Details of foreign assets and investments
• Form 26AS

Apart from staying compliant, there are various other benefits of filing an ITR. Some of them are listed below:

• Easy loan approval
• Quick income tax refund
• Acts as the proof of income and address
• Quick visa processing
• Allows carry forward of losses
• Helps claim income tax refunds easily
• Helps buy term insurance
• Helps avoid penalties for non-filing

Yes, taxpayers can file their ITR themselves either through the income tax department’s website or through Tax2win’s website. Filing your Income Tax Return (ITR) with Tax2win offers a convenient and user-friendly experience. All you have to do is enter some basic information about your salary and personal details, and the AI-integrated DIY ITR filing software automatically extracts your personal details and employment details, selects the appropriate ITR form, computes the tax liability, and files your ITR.

Filing ITR late can result in various penalties and consequences. For individuals with a total income exceeding Rs 5 lakh, the penalty is Rs 5000, while for those with an income up to this limit, it is Rs 1000.

People having an annual income exceeding the basic exemption limit, i.e., Rs. 2.5 lakhs, are mandatorily required to do e-filing of ITR. Any individual below 60 years of age having an income exceeding Rs. 2.5 lakhs has to file an ITR.

Yes, you can file your ITR without Form 16. Salaried employees can file their ITR even if they have not received Form 16 from their employer. In such cases, the TDS details can be found using Form 26AS, and income details can be found using AIS/TIS. Alternatively, you can ask your employer to issue Form-16, as it serves as a statement of TDS deducted.

The basic exemption limit for individuals under 60 is Rs. 2.5 lakh under the old tax regime. This means if your gross total income within a financial year under the old regime is Rs. 2.5 lakh or more, then it is mandatory to file an Income Tax return

The new time limit for e-verification of ITR is 30 days from the date of filing the return of income. However, where the return is filed on or before 31.07.2022, the earlier time limit of 120 days will continue to apply.

E-filing your Income Tax Return (ITR) directly through the official portal of the Income Tax Department is one option for taxpayers in India. However, Tax2win offers a convenient alternative with its self-filing option, allowing users to complete the ITR filing process quickly and easily, often in just a few minutes.

Moreover, Tax2win provides the valuable option of seeking assistance from tax experts. This personalized guidance can be particularly beneficial for individuals who have complex financial situations or require expert advice to maximize their tax benefits while ensuring compliance with tax regulations.

You can check the refund status of your ITR via Tax2win's "Check Income Tax Refund Status."

Tax2win has made the complex task of filing income tax returns much simpler. Tax2win is fast, safe, and easy for ITR filing. With its user-friendly platform, you can easily file your ITR in just 4 minutes. A small platform usage fee is applicable to deliver smooth services.