Income tax

SIR

ONE OF THE CONTRACTOR RECEIVED BUILDING CONSTRUCTION ORDER DURING THE JULY 2017.  BUT STILL THE SAME IS UNDER CONSTRUCTION.  IT WILL COMPLETED AFTER FEB.2019.  THEY RECEIVED PAYMENT AFTER DEDUCT THE INCOME TAX TDS.  THERE IS NO SALES DETAILS  FILED IN GST DUE TO IN COMPLETION OF THE PROJECT.  ONLY BANK ENTRIES AVAILABLE FOR THE PAYMENT RECEIPTS.  PLEASE LET ME KNOW HOW TO FILE THE INCOME TAX FOR THE FY 2017-18. AND WHICH HEAD OF INCOME MENTIONED IN THE ITR. (BUILDING UNDER CONSTRUCTION)

PLEASE CLARIFY.

REGARDS

S. RAVICHANDRAN

 

Replies (4)

For F.Y . 2017-18  you can not  file  return now  except if refund or carried  forward loss in this case one can file with  con donation request U/s  119(ii) (b)  of the income tax act 1961 to your jurisdictional  A.O. , after approval you can file return .   

please  confirm with others also .

For FY 2017-18......... i.e. AY 2018-19, you can file return till 31st March, 2019 with late fees upto Rs. 10,000/-

As far as work on progress is concerned, based on architect's certificate you should file returns of IT and GST.

Contact a CA nearby to sort out the problem.

Ho, sorry sir  I just  miss read F.Y 2016-17 

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