My one client is a salaried employee. He wants to file returns of A.Y. 2016-17 & A.Y. 2017-18. He has missed the deadlines. Is it possible to file returns after due date ?. If yes, is there any penalty for late filing?
Kindly advice
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Delay in ITR Filing for A.Y. 2016-17 & 2017-18 for salaried Individual?
Replies (9)
can we file returns now
penalty for filing late return is applicable from AY 18-19.
therefor u can file ur return...
But there are some other consequences like...ur loss will be lapsed.. interest on tax liabilities..
therefor u can file ur return...
But there are some other consequences like...ur loss will be lapsed.. interest on tax liabilities..
the assessee is a salaried employee
yes u can file both returns now .
no penalty for the a.y. 2017-18.
penalty may be initiated u/s 271F for the a.y.2016-17 only if his income is more than basic exemption.
no penalty for the a.y. 2017-18.
penalty may be initiated u/s 271F for the a.y.2016-17 only if his income is more than basic exemption.
however department generally not initiate such penalties . So dont worry.
@ Manu Menon.,
You can file both return in current year. No more penalties raise. So, don't be panic. Go to file that return....
You can file both return in current year. No more penalties raise. So, don't be panic. Go to file that return....
Thanks
You are Welcome.....
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