03 April 2015
Yes you can file return u/s 139(4) upto 31.03.2016 but subject to penalty u/s 271F.
271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.
AO can levy Maximum Penalty of Rs 5000/- after giving assessee an reasonable opportunity of being heard.