Return of income is the format in which the assessee furnishes information related to his total income and tax payable. It is a declaration of income by the assessee in the prescribed format.

1. Due Date or Last Date to File Income Tax Return for Individuals who are mandatorily required to file the Income Tax Return:

As per Section 139(1)

“If the total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax.”

Analysis:

Mandatory filing of the income tax return:

  • If the gross total income (before allowing any deductions under section 80C to 80U) exceeds Rs.2,50,000 in the A.Y 2018-19.
  • This limit is Rs 3,00,000 for senior citizens (who are more than 60 years old but less than 80 years old)
  • This limit is Rs 5,00,000 for super senior citizens (who are more than 80 years old)

Important Note:

The Finance Act’2016 has amended the provisions to include that if a person during the previous year earns income which is exempt under clause (38) of section 10 and income of such person without giving effect to the said clause of section 10 exceeds the maximum amount which is not chargeable to tax, shall also be liable to file return of income for the previous year within the due date.

Analysis:

That means, if a person has exempted long-term capital gain referred to in section 10(38) on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust, he shall also be mandatorily required to file his return of income, if his income before exemption u/s 10(38) exceeds the maximum amount which is not chargeable to tax.

Apart from the above, below individuals are mandatorily required to file the income tax return:

A person, being a resident other than not ordinarily resident in India within the meaning of clause (6) of Section 6, who is not required to file the ITR as per section 139(1) and who at any time during the previous year:

  • holds as a beneficial owner or otherwise, any asset (including any financial interest in any entity) located outside India OR has signing authority in any account located outside India; or
  • is a beneficiary of any asset (including any financial interest in any entity) located outside India. However, where any income arising from such asset is includible in the hands of a person specified in the first clause in accordance with the provisions of this act, an individual, being a beneficiary of such asset, is not required to file the return of income.

2. Due Date of Filing Income Tax Return for A.Y. 2018-19 for filing return of income for different categories:

Below is the due date of filing return of income for different categories:

Category Due Date of Filing for A.Y 2018-19
Individual, whose accounts are required to be audited 30th September’2018
Individual, who is required to furnish a report referred to in section 92E 30th November’2018
In all other Cases 31st July’2018

3. Last Date of Filing Income Tax Return for the A.Y 2018-19:

Last Date to File income tax Return for Assessment Year 2018-19 is 31st March’2019

As per section 139(4)

Any person who has not furnished a return within the time allowed to him under sub-section (1), 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.

4. Last Date for Revision of Income Tax Return for the A.Y 2018-19:

Last Date to file Revise income tax Return for Assessment Year 2018-19 31st March’2019

The Person can revise the return if he discovers any omission or any wrong statement. Further, after the amendment by the Finance Act’2016, the belated return can also be revised.

In order to expedite assessments of the Department, the returns for an assessment year also freeze by the end of the assessment year. Hence, provisions of sub-section (5) of section 139 amended by the Finance Act’2017 to provide that the time for the furnishing of revised return shall be available up to the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

5. Fee for delayed filing of Income Tax return:

In view of the non-intrusive information-driven approach for improving tax compliance and effective utilization of information in tax administration, it is important that the returns are filed within the due dates.

Section 234F is introduced in order to ensure that returns are filed within the prescribed due date.

Date of Filing Fees Leviable
If the return is furnished after the due date of filing but on or before the 31st day of December. Five thousand rupees
In any other case  Ten thousand rupees
Note: If the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.

Thus, we will see the huge rush for individual return filers in the month of July’2018 for filing the return for the A.Y 2018-19. All those people who used to file the ITR’s in the month of March will now get the same filed within due date to avoid the fees leviable u/s 234F.

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28 responses to “Income Tax Return Filing by Individuals for A.Y 2018-19”

  1. SWADESH RANJAN MANNA says:

    I am a director as well as share holder of a Pvt. Ltd. and get dividend from that company but my total income below Rs.250000/-
    What is the due date of my IT file return on FY2017-18

  2. S BANERJEE says:

    I WOULD LIKE TO KNOW IF A BUSINESSMAN FILLING ITR 4 FOR A/Y 2018-19 SHOWS PRESUMPTIVE INCOME AND ONLY SHOWS GROSS AND NET VALUES AND NOT FILL THE BALANCE SHEET. WILL HE BE SENT A NOTICE OR WILL IT BE CONSIDERED.

  3. Mayur says:

    Hra chhut kya h

  4. Naresh kumar Arora says:

    When will be the forms available on
    Income tax website for filling ITR FY
    2017_18

  5. mitulmakwana says:

    When will be the forms be available on incometax -website for filing ITR’s for F.Y. 2017-18?

  6. Harbinder Singh says:

    I received arrears for the revised pension commencing from FY 1-4-2000 to 31-3-2018.Pl. advise that can I club the amt. of arrears with pension received in Fy 17-18 and file one return for fy17-18.

  7. avinash shenoy says:

    Yes I also noticed that it website still did not update for 2018/19

  8. Dave says:

    The government is deliberately not allowing us to file ITR in time, it is government who do not want to work, why not allow us to upload ITR for FY2017-18 AY2018-19 right from 1 April 2018. I am ready with my data. Let them make available at least paper ITR1 form and we can file the paper ITR to AO.

    Also the 15H should be made available to seniors right from April so as at least seniors can avoid summer heat wave and do not fall sick. In fact government should pay 50K for the senior allowance who make sincere efforts to file ITR and 15H. Any challenge ?

  9. teja says:

    SIR I WANNA TO FILE RETURN OF AY 2017-18 IN AY 2018-19 ,WHAT WILL BE THE DUE DATE TO FILE SUCH RETURN ?I AM AN INDIVIDUAL

  10. Simba says:

    Hi,

    I want self e-file tax return for assessment year 2018-19 ( financial year 2017-18). While checking the IT website, it is not showing the above mentioned AY. It shows up to AY 2017-18 only. Please advise why there is no AY 2018-19 yet and advise to file my return. Thanks in advance.

    • Arun Sinha says:

      I am a retired person.i can’t see the A.Y. 2018-2019 ITR V form when I search into the website.pls help.

  11. achin says:

    if you need. any income tax return call-8273980693

  12. ganapathy says:

    I am an indian resident and Indian citizen. While I was a greencard holder in the USA, I contributed to retirement accounts (IRAs) and I plan to start withdrawls on a monthly basis from april 2018 as I am 70.5 years old. Are these withdrawls taxable in USA and India? the fund company says it will withhold 30% taxes on my withdrawls.

  13. Deepak Rastogi says:

    I retired from Govt. service in June 2015 and deposited Rs. 60,000 for life time CGHS benefits but did not make any claim for deduction under IT Act in AY 2016-17 and AY 2017-18. Can I make a claim for whole or part of the amount in my ITR for AY 2018-19.

  14. Triyambak says:

    I think the table should be corrected… it should be Fees Payable and not Fees Leviable because the new penalty u/s 234F is not leviable it is mandatory and rather payable.

  15. Vijay says:

    Hello. I would like to know under what head can I claim the Transport Allowance Rs. 19200 and medical reimbursement Rs. 15000 for FY 2017-18. Due to hospitalization expenses (which are not under deduction list) I wont be able to invest Rs. 150000 to get the benefit of Section 80C hence looking save on tax as much as possible under various heads.
    I would be obliged if someone can guide me where in ITR 1 can I access it?
    And under what head (Rs. 40000) from FY 2018-19 when these 2 deductions are discontinued.

  16. I.U.Dafle says:

    Can LTCL in shares be offset against LTCG from plot
    Sale

  17. Raju SV says:

    Hi Tharun,
    This is regarding return filing 2018-19.
    I am in India since May 2016 and I am not employed since Aug 2016. I have received a tax refund of INR78000/- from UK for the year 15-16 & 16-17. Plz help me to solve my below questions:-
    1. Can I show the above figure as Income from other sources?
    2. Also, should I show the interest received as Income from other sources; interest on above figure 78000/-and other interests received in my savings account?
    3. I have also received PF and gratuity during 2016 June. Part of this amount is also saved in my SB a/c(around 80k), should I consider this as my Income from other sources?
    4. Also, should I show the interest received as Income from other sources; interest on above figure(around 80k)?

  18. DR P K SAHA says:

    last year 2017-18 i submitted form itr 1 sahaj and deposited to your office in july 17. this year what is the form required for 2018-19. i know that interest from fd upto 10,000/ is not taxable. i have not yet taken that rebate.this year i want to take.

  19. DR P K SAHA says:

    I am 80+ years old. Last year I filled form ITR 1 SAHAJ form 2017-18 and submitted to IT office. This year I want Form for 2018-19. Tell me form no. Also I know that interest from FD up to 10000/ is not taxable. Up till now I have not claimed this rebate.

  20. Ashwathy says:

    Hi Tharun, I am an NRI and i would like to do a blank return filing. I am logging into the govt portal but I am unable to see any AY 2018-19 year for filing. Is it due to any particular reason or has the filing for this assessment year is yet to start

    • TARUN786 says:

      Not yet started. It will start after the completion of the financial year 2017-18 once the government notifies the ITR forms.

  21. Karnel Singh says:

    D2 Deduction from income Tax to a resident individual,whose total income does not exceed Rs.500000/- of an amount equal to such income tax or an amount of Rs.2000/- whichever is less is still applicable for the AY 2018-19

  22. Gopi Chand says:

    Would you please provide a copy of format for claiming rebate under section 89 for arrears of pension received from 01.01.2016 to till date (for AY 2016-17, 2017-18 & 2018-19).
    G

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