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. Practical Income Tax
  2. Important Changes in Income Tax 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 .