CA Ashish Aggarwal
While filing your income tax return within due date is important, it does not mean that if for any reason you missed the dead line than you wouldn’t be able to file your income tax returns.
But the clock turns on, which means as you have missed the dead line you might receive a notice from the income tax department any time.
You can always file your income tax return (before receiving any notice from the department) within 2 years from the end of the financial year of which return is required to be filed by you. Filing your income tax return after the due date invites some consequences which are as follows:
So, you can still file your taxes if you have missed the deadline. Just keep in mind the above consequences of filing your taxes late.
(Author is associated with portal www.fileitronline.com which provides online financial services in the nature of online income tax returns filing)
Do you think CBDT should extend Tax Audit Report and relevant ITR Due Date? Please Comment, Vote, Retweet and Like.— Tax Guru (@taxguru_in) September 18, 2018