prpri Last Date of ITR for A.Y. 2017-18 after Amendment Last Date of ITR for A.Y. 2017-18 after Amendment

Due Date of Income Tax Return

As per Section 139(1) of the act, Due Date of filling of Income Tax Return is 30th July of every Assessment year for Individual / HUF but for the company or other than company assessee who is required to furnish audit report u/s 44AB under income tax act or any other laws or working partner of a firm in which audit required under income tax act or any other laws, due date is 30th September of every Assessment year and 30th November for assessee who is required to furnish report of Transfer Pricing u/s 92E.

Last Date of filling of Return Upto A.Y. 2016-17

As per section 139(4) of the act, any person who has not furnished a return within the due date mentioned above, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In simple words, assessee can file a return within 2 years from the end of the relevant financial year.

For Example:

Mr. A can file a return upto 31st March, 2018 for the financial year 2015-16.

Last Date of filling of Return From A.Y. 2017-18

In the Finance Act, 2016 made an amendment in section 139(4), the time limit of filling of return has been reduced from 2 years to 1 year from the end of the financial year.

As per section 139(4) of the act, any person who has not furnished a return within the due date mentioned above, may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In simple words, assessee can file a return within 1 year from the end of the relevant financial year.

For Example:

Mr. A can file a return upto 31st March, 2018 for the financial year 2016-17.

Mr. A can file a return upto 31st March, 2019 for the financial year 2017-18.

Revision of Return Upto A.Y. 2016-17

As per section 139(5), if any person, having furnished a return under sub-section (1), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In simple words, assessee can revise only those return filed before due date u/s 139(1) within 2 years from the end of the relevant financial year.

For Example:

Mr. A can revise a return upto 31st March, 2018 for the financial year 2015-16, if return was filed on or before due date i.e. 30th July, 2016.

If return was filed after 30th July, 2016, assessee can’t revise its return at any cost.

Revision of Return From A.Y. 2017-18

As per section 139(5), if any person, having furnished a return under sub-section (1) or sub-section (4) , discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In simple words, assessee can revise its return even filed after due date mentioned above within 2 years from the end of the relevant financial year.

For Example:

Mr. A can revise its return upto 31st March, 2019 for the financial year 2016-17 even return was filed after due date or before due date.

Even If return was filed after 30th July, 2017 then assessee can revise its return after amendment made in Finance Act, 2016.

The Purpose of this article to remind that law has been changed from A.Y. 2017-18 and file a ITR accordingly otherwise it’ll treated as invalid return after 31st March, 2018.

If any queries/doubt feel free to contact at cayogesh1193@gmail.com

Disclaimer : The contents of this article are solely for information and knowledge and does not constitute any professional advice or recommendation.

Income Tax Return Filing by Individuals for A.Y 2018-19

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24 Comments

  1. soma says:

    Hi, There is a refund of Rs.9500 which needs to be come for me as part of Form 26 AS for the financial year 2016-2017. I have no other income. I have efiled ITR on July 2017 without mentioning refund and Later realised they have deducted tax for that. I need to refund, can I file revised return for that now? If no, what are the other options available now for me.

  2. kanchan Singha says:

    If the assesse have failed to file I.T return for the A.Y 2017-18 within 31-03-2018 due to lack of knowledge, then he/she will not get any further chance to the return as mentioned herein above

  3. AVTAR SINGH says:

    MAY ASSESSEE HAVE TAXABLE INCOME AS BUSINESSMEN/EMPLOYEES ETC. THEY CANNOT FILE THE RETURN IN TIME THEY ARE NOT AWARE THE NOTIFICATION OF I.TAX DEPTT. HOW CAN THE ASESSEE MAY FILE FOLE THEIR I.TAX RETURN 2017-18,dEPTT. MAY RELIEF /EXTEND THE DATE FOR 2017-18

  4. C.V.Krishna Kishore says:

    Can the assessees file their returns for the assessmet years 2016-17 and 2017-18 after 31.03.2018 some assessees returns are not filed due to last day bank online site and incometax web is also not functioned properly what we do please give me the suggestion for filing the returns nearly 15 returns are not filed still pending please guide me in this matter

  5. ca naveen kumar goyal says:

    Dear, The Finance Act 2017 amended section 139(5) to provide that the time for furnishing of revised return shall be available up to the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

    not one year from the end of the relevant assessment year.

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