ITR FOR AY 2018-19 URGENT

"can I file ITR 1 for financial year 2018-19 now with penalty ???"

ITR for financial year 2018-19, can be filed without penalty before 31st August!!! (i.e. AY 2019-20).

But if your query is for AY 2018-19, sec. 119(2)(b) of IT act, would be helpful......

If any refund or losses to be carried forward, you can apply for condonation request for delay in filing return, to JCIT/ITO of your jurisdiction. If he grants permission, you can file return for AY 2018-19...