Sayed Ali Zaman Rizvi (Student CA Final ) (36 Points)
06 February 2019Can a person now file the return for the A.Y. 2017-18? If yes, what will be the penalty to be paid if income is below taxable limit?
KAAMIL AHAMADH
(ACCOUNTING/TAX CONSULTANCY AND ITR/GSTR FILING)
(253 Points)
Replied 06 February 2019
Hi !
You can file your belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year(AY).
For example, for the AY 2017-18, a belated return can be filed on or before 31st March 2019.
However, with the amendment vide Finance Act 2016, from AY 2017-18 belated IT belated returns should be filed before the end of the relevant AY.
Through the above amendment, the time limit for filing of belated return has been reduced by 1 year.
So, for the AY 2017-18 , a belated return can only be filed on or before 31st march 2018.
Hence Due to Amendment you cannot File ITR for AY 2017-18 after 31st march 2018.
Hope this clears the situation.
Regards
KAAMIL AHAMADH (AR-RAHMAN EFILING)
Sayed Ali Zaman Rizvi
(Student CA Final )
(36 Points)
Replied 06 February 2019
Thanks a lot sir for the info.
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