FY 2015-16(AY 2016-17)

  • Due Date of ITR is normally 31 July 2016/(30 Sept 2016 in case of Audit)
  • However,Return can be filed late also till

                     1.   31.3.2017 (Without penalty)

                     2.    31.3.2018 (With Penalty of Rs 5000)

  • Hence,Return can be filed till one year from end of Assessment Year)
  • if return filed on time,then only it can be revised under Section 139(5)

FY 2016-17(AY 2017-18)

  • Due Date of ITR is normally 31 July 2017/(30 Sept 2017 in case of Audit)
  • However,Return can be filed late also till

                  1.     31.3.2018 (Without penalty)

      ( Now It cannot be filed after 31.03.2018)

  • Hence Return can be filed till end of Assessment Year (and not one year from end of assessment year)
  • Both Original and Revised Return can be revised
  • However,Revised Return can be filed till 31.3.2019 (till one year from end of assessment year)

FY 2017-18 (AY 2018-19)

  • Due Date of ITR is normally 31 July 2018/(30 Sept 2018 in case of Audit)
  • However,Return can be filed late also till

                     1.    31 Dec 2018 (With Penalty of 5000)

                     2.    1 Jan 2019 to 31 Mar 2019 (With Penalty of 10000)

                (Note If Total income is upto 5 lacs,then Penalty is reduced to 1000)

  • Penalty to be taken into account while determining demand and refund.
  • Both Original and Revised Return can be revised
  • However,Revised Return can be filed till 31.3.2019 till end of assessment year and (not one year from end of ay)

 

  1. Tax Practical
  2. Budget Amendments - Changes in 2017-18
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .