14 March 2016
For F.Y 2015-16 which is A.Y.2016-17 return should filed on or before 31 July 2016 in case tax audit 44AB applicable due date to file original return is on or after 30 September 2016
However belated return can be filed on or before 31st March 2017 WITH OUT PENALTY 271F
belated return can be filed upto 31March 2018 , however if return filed after 31st march 2017 Rs.5000 penalty may be levied as per Section 271F
12 June 2016
Penalty is for non filing of return where your liable to file penalty can be levied,, but dont worry and file return no penalty is levying now ,..so can file return fearless