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I will be out of India for two months from the 1st week of June 2017.
My income consists of only two elements,
pension and interests from bank fds+savings a/c.
I intend to pay tax fully before my departure as I know the amount of pension received during the year and the interests paid/accrued from interest certificates issued by banks.
However, banks are required to file Q4 tds statement by 31st May 2017 according to CBTD directive and consequently form 16A for this last quarter will not be available before my departure.
Also, this tds for Q4 will not be reflected in my form 26AS by that time.
I e-file ITR which is pre-filled from PAN data base.
Fields relating to TDS schedule are also pre-filled which are updated till Q3 at present. These fields will be finally updated till Q4 in June.
I am not sure if I can change these pre-filled data of tds to include Q4 data from bank interest certificates.
Under the above circumstances, I may not be able to e- file ITR for AY 2017-18 before my departure though full tax will be paid.
I will file the ITR by the middle of August 2017 on coming back to India.
Will any penalty be imposed for this delay?
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Delayed itr filing
Replies (5)
" I am not sure if I can change these pre-filled data of tds to include Q4 data from bank interest certificates."
It gets easily updated as and when Pre-Fill Option is used.
"Under the above circumstances, I may not be able to e- file ITR for AY 2017-18 before my departure though full tax will be paid."
You will be able to file before departure, as it takes hardly 15 minutes, when all other things are ready. And the TDS amount will be updated by May end; need not wait for form 16A.
"I will file the ITR by the middle of August 2017 on coming back to India. Will any penalty be imposed for this delay?"
No penalty, at least for this AY 2017-18.
but late fees of Rs. 5000 is applica ble. So pay the tax file the return without waiting for Q4 TDS. then in Aug. file revised return
yes, penalty applicable for AY 2018-19
agree with poltu Ghosh. No penalty for AY 2017-18.
Late fee is applicable from next year onwards. For this year you can file your ITR online from any where and e verification can also be done. Even the ITR for Asst Yr 2017-18 is filed in August, there wont be late fee or penalty
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