Due Date for ITR Fillings


 

Many of us wait till the last moment before springing into action to file our ITR’s, be it a habit, fear or expertise. Either we are unaware of the deadlines set by IT department or unable to make time before such deadline. Non adherence of Due Date for ITR Filing  in any case, can attract repercussions from the Income Tax department. Therefore for your reference, we will let you know the various provisions of due date.


As per Income Tax Law, there are different categories of assessees viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. The Due Date for filing the ITR is different for all such categories.

As per section 139(1), the due dates has been defined according to the audit or non-audit cases. Generally speaking, the individual and entities, those who have to undergo audit have a later due date than those who are filling ITR without going through audit. Let’s understand them one by one.

  • Due Date for Non-Audit Cases :

If you are a salaried or a business person who does not require an audit, then this category is for you!! In such case, the Due date for filing the Income Tax Return shall be 31st July of the relevant assessment year. For FY 2017-18; AY 2018-19 , it is 31st July 2018.

  • Due Date for Audit Cases :

If you are any one of the below assessee then this category is for you :-

  • A Company
  • An Individual requiring audit of accounts or
  • A Working partner of a firm, requiring audit of accounts

In such case, the Due date for filing the Income Tax Return shall be 30th September of the relevant assessment year. For FY 2017-18; AY 2018-19 , it is 30th September 2018.

  • Due Date for assessee required to furnish Report u/s 92E :

As per section 92E, a person who enters into international or specified domestic transactions is required to submit a report u/s 92E. In such case, the Due date for filing the Income Tax Return shall be 30th November of the relevant assessment year. For FY 17-18; AY 2018-19 it is 30th November 2018.


  • Due Date for assessee filing Revised Return :

In case you have filled the ITR before due date but made a mistake or omission, then u/s 139(5) you can file a revised return. From F.Y 17-18, the deadline for filing the revised return has been amended. Now, you can revise your ITR only before the end of relevant assessment year. That means for a ITR filed for financial year 2017-18, the deadline for filing the revised return would be before the end of assessment year 2018-19 i.e 31st March, 2019.


Further, if you have missed the deadline for filing the original return within due date then government gives you one more chance but with an extra cost of late filing Fee u/s 234F!!


You can file your belated return before the end of relevant assessment year. After this date you are not allowed to file the return for that year. That means 31 March is a significant date for all the late return as well as revised return filers. For F.Y 2017-18, it is 31st March 2019.


For the sake of convenience, the above explained due dates have been reproduced below in table form :



S.No.

Status of Taxpayer

Due Dates

1.

All individuals whose accounts are not required to be audited

31st July of the relevant assessment year

2.

Following persons require audit of accounts:

  • A Company
  • An Individual  
  • A Working partner of a firm

30th September of the relevant assessment year

3.

Assessee who is required to furnish report u/s 92E

30th November of the relevant assessment year

4

Any assessee filing a belated or a revised return

31st March of the relevant assessment year



Conclusion :

Given the new reforms, it is quite clear that waiting for last date (end of financial year) will not work anymore. Now, you are required to keep track of your tax filing requirements more than ever. Keeping this in mind, we are have provided you the insight of various due dates set by Income Tax department and hope that this will be helpful. For any further clarification comment in the section below or for guidance related to tax filing Contact Us Now!!

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Team Tax2Win