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Old ITR query

17 September 2021

Respected sir/madam,

Can I file F.Y. 18-19 and F.Y. 19-20 ITR now. Can there is any process for that?

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6 Replies

Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5138 Points)
Replied 17 September 2021

According to the Finance Act 1987 amendment, you can file your belated IT Returns anytime on or before 1 year from the end of the relevant Assessment Year (AY). Example, for the AY 2016-17, the timeline to file a belated return was on or before 31 March 2018.

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Rama chary Rachakonda (Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294) (5138 Points)
Replied 17 September 2021

No, you cannot file an ITR for the last three years together, that is, in one year. ... In case you have missed the extended deadline fixed for filing your ITR, you can still file your ITR with a penalty through a 'Belated Return' which was first introduced in the Finance Act of 2017. FILE YOUR ITR NOW!