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Fy 2016/17 - can return be filed after belated return date?

Arun (Business) (81 Points)

25 January 2018

The last date for filing belated return for FY 2016/17 (ay 17-18) is 31st March 2018.

Can a return still be filed after this date under any other provisions?

If a return cannot be filed withing this time frame, what is the penalty?

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178001 Points)
Replied 25 January 2018

"Can a return still be filed after this date under any other provisions?"

U/s. 119(2)(b)......... if applicable..........

If a person has not filed his income tax returns he/she will be issued notice u/s 142(1) for non-filing of income tax return if the income tax department feels it fit. Further, if the individual fails to furnish his income tax returns after the notice he will be penalized for the same. If there are any taxes which are unpaid, penal interest as per u/s 234A i.e. @ 1% per month or part thereof will be charged till the date of payment of taxes. Also Penalty of Rs. 5,000 may be charged. The penalty is not levied in all cases and depends upon the circumstances of the case.