Income Tax is a direct tax levied by the Government of India on the per capita income from the wages, generated by businesses & trading companies, in their area. As per Indian law, taxpayers must file an annual income tax return in order to determine their tax obligations. Tax revenue is the major source of revenue for the Indian government, which is invested in public works & government obligations. Business income taxes are applicable to non-profit company owners, partnerships, small businesses, and self-employed people. Income tax is calculated on the following income tax on business income based on the pre-defined tax bases of the Department of Revenue, which is managed via the Union Budget. The tax that an individual pays is in the amount that the person earns until the end of the financial year. Paying taxes by filling out the correct form online, has changed and made the whole taxing process easier and more happening.


1.    Carrying losses not incurred in the years to come

Filing ITR within the prescribed dates allows one to move forward losses for the current year until the next financial year.

2.    Avoid interest-bearing debt

To file the ITR, all applicable taxes have to be paid in full. Entering the ITR after the due date results in an additional 1% interest per month or part of a month during the delay period under Section 234A of the Act on the outstanding tax arrears. It is better to pay taxes and submit an ITR within the allotted time.

3.    Avoid Section 234F penalties and late filing costs

Recent costs up to Rs. 10,000/- may be charged if the ITR is completed after the respective deadline. And that in addition to any other penalties imposed by the Act.


There are multiple ways to file a tax return. Mode is determined by the input requirements. If the refund is simple, that is, a person has only one or two sources of income, one can file a refund without the help of professionals such as a Tax Advocate or Chartered Accountant. Depending on the circumstances, the person may file a refund using the normal paper method or online. The various options are as follows:


Refunds can be applied directly. There are two options: online or physical / on paper. In addition, an offline filling is only possible if the income is less than Rs. 5 lakhs and no refund is required. In addition, no revenue should be exported to complete offline refunds. Application forms can be completed and submitted to the nearest Income Tax office. Upon submission, the person who completes the form must collect a valid and stamped acknowledgment slip. When it comes to online shipping, there are two options: completely online and offline. This will be explained in more detail later. This return method is suitable for individuals.


The government appoints taxpayers through the system. Tax returns are designed to help people who have difficulty understanding the complexity of forms/documents/papers. Using the website www.trpscheme.com, you can find a tax return setting anywhere. A tax return plan can be obtained after submitting the required information on this website. Tax rebate service providers charge a fee to complete refunds. When filling out a refund with the tax return plan, check the details of the reimbursement provider such as ID number, and title, and re-sign on the form.


CA is not required in cases where revenue sources are simple and limited to one or two. However, in complex cases involving tax audits, other sources, cancellations, etc., consultation with a Chartered Accountant is required. CA charges a fee for this service. It is recommended that you check the CA details.

Returns can be submitted using one of two platforms. There are two main sites that can be used: online and offline. Although some mobile applications for filling returns have been built, they have limited usage and are not essential. The most common and appropriate way to file a refund is through the official website.

Applying for refunds online can be done in two different ways: online or partially online. After creating the ID, one must log in to the website with the user ID and password. After logging in, the user must select the appropriate form and complete the required information.

One has to produce the appropriate ITR form in the form of an online component. After that, the form should be completed, and a file should be created. The person must then log on to the website, upload the completed form, and submit it.

The standard return method is offline. The relevant form must be completed by hand; all documents must be attached, and the form must be literally delivered to the IT department office. This method requires a lot of time, patience & effort. The mode depends entirely on personal preferences.


About 71 percent of total government revenue is collected through taxes and duties, while nine percent comes from tax-free revenue, and the remaining 20 percent is paid on loans and other loans. Government revenue is used for a variety of purposes, such as partial tax payments and services, interest payments, costs of centralized industrial and government-funded programs, pensions for retired government employees, security costs, benefits, and financial expenses commission, transfer, etc. Hence it is important to file the ITR on time.

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Komal Sharma
Adv. Komal Sharma, University of Delhi

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