How to file itr for ay 2016-17 & 2017-18 after 31.03.2018
This query is : Resolved
CA Ravi Soni
(Querist)
07 April 2018
Hello Everyone,
Our many clients are getting notices from Income Tax Department- CPC for non filing of ITR for AY 2016-17 & 2017-18.
Most of the clients have not filed their income tax returns due to income being below basic exemption limits.
However, TDS@10% u/s 194A is already deducted from their interest income which should have been refunded had they filed their ITR before 31.03.2018.
Hence, kindly answer my 3 queries mentioned below:
1. Whether ITR for AY 2016-17/ 2017-18 can be filed after 31.03.2018 (online? offline?)?
2. Whether refund shall be granted if ITR is filed after 31.03.2018 (i.e. time barred return)?
3. If a person suo moto wants to file ITR for AY 2016-17 & 2017-18 for loan purposes, how can it be done?
Awaiting positive responses from all of you!
Our many clients are getting notices from Income Tax Department- CPC for non filing of ITR for AY 2016-17 & 2017-18.
Most of the clients have not filed their income tax returns due to income being below basic exemption limits.
However, TDS@10% u/s 194A is already deducted from their interest income which should have been refunded had they filed their ITR before 31.03.2018.
Hence, kindly answer my 3 queries mentioned below:
1. Whether ITR for AY 2016-17/ 2017-18 can be filed after 31.03.2018 (online? offline?)?
2. Whether refund shall be granted if ITR is filed after 31.03.2018 (i.e. time barred return)?
3. If a person suo moto wants to file ITR for AY 2016-17 & 2017-18 for loan purposes, how can it be done?
Awaiting positive responses from all of you!
CA Abhishek Goyal
(Expert)
07 April 2018
Hi,
For A.Y. 2016-17, it is difficult to file Return as it is time barred. But for A Y 2017-18, you can file return manually after paying such prescribed penalty. You have to convince your A.O. for such filing.
For A.Y. 2016-17, it is difficult to file Return as it is time barred. But for A Y 2017-18, you can file return manually after paying such prescribed penalty. You have to convince your A.O. for such filing.
CA Ravi Soni
(Querist)
07 April 2018
How much is "such prescribed penalty"? Kindly provide me Section Number for the penalty.
Although it is difficult to file ITR for AY 2016-17, but can it be filed as per law?
Although it is difficult to file ITR for AY 2016-17, but can it be filed as per law?
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