IT Return for 2017-18

Dear All,

Can we file IT returns for 2017-18, if yes means what will be the interest for late filing.
Replies (2)
Quick Summary
This discussion addresses the possibility of filing Income Tax Returns (ITR) for the 2017-18 financial year. While direct filing is generally not permitted after the deadline, individuals with a refund or carry-forward loss may apply for condonation of delay under Section 119(2)(b) within six years. Failing to file can lead to penalty charges and interest, so it's advisable to settle any tax liabilities promptly.

No, you can't but You can apply for Condonation of Delay in Filing ITR Section 119(2)(b) (if have refund or carry forward loss) within 6 years of from the end of the assessment year for which income tax return has to be filed or You may receive a notice from the Income Tax Department with penalty charges for not filing ITR. The alternatives and the risk for not filing the ITR vary from individual to individual depending on their tax due. You should pay off your income tax liability as soon as possible rather than waiting for the Income Tax Notice. 
Thank you for the inputs

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