Income Tax Last Date for Filling IT Returns

Income Tax Last Date for Filling IT Returns – Income Tax return (ITR) for filling returns are usually the last date of july of assessment year corresponding to their financial year.

All the taxpayer needed to file the return of the financial year by 31st July of the assessment year. As like for FY 2015-2016 or AY 2016-17 by 31st July 2016. Suppose anyone miss the deadline then what to do ?

ReadHow to reply Non Compliance Income Tax notice?

If due to any reason, the taxpayer is not able to file his income tax return still they  can fill the return as per the table mentioned below :

Financial Year (FY) Assessment Year (AY) Last Date for Filing Return Penalty
2012-13 or earlier 2013-14 or earlier  CANNOT be filed. Prior permission of Income tax needed
2013-14 2014-15 Mar 31,2016
  • Penalty of Rs 5000
  • Late payment fee of Rs 1% per month on any tax due
  • Cannot revise ITR
  • Cannot carry forward losses
2014-15 2015-16 Mar 31,2016
  • No Penalty
  • Late payment fee of Rs 1% per month on any tax due
  • Cannot revise ITR
  • Cannot carry forward losses
2014-15 2014-15 Mar 31,2017
  • Penalty of Rs 5000
  • Late payment fee of Rs 1% per month on any tax due
  • Cannot revise ITR
  • Cannot carry forward losses

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