If the assessee is liable to file ITR for previous year 2016-17 but doesn't file the same, the department may serve various types of notices like 142(1), 147 or they can make best judgement assessment U/s 144 after intimating the assessee offcourse, and after the assessment, tax will have to be paid along with interest and penalty. If the assessee is lucky enough then he/she may not get such notices, but probability of getting the same increases if he/she has filed return for earlier year(s) and is having taxable income for P.Y. 2016-17.

It is advisable that where the last chance is still available, to file the return for P.Y. 2016-17 if the assessee is liable to file return.

Pankaj Toshniwal

34 Points Posted on 26 March 2018

The fee to be levied is based on the time period of delay which is as follows:
(i) A fee of Rs 5,000 in case returns are filed after the due date but before the December 31 of the relevant assessment year or
(ii) Rs. 10,000 in case it is filed after December 31 of the relevant assessment year.

A B Kundu

Professional

917 Points Posted on 26 March 2018

The provision quoted by Mr. Toshniwal is applicable from AY 2018-19,i.e., P.Y. 2017-18, not applicable for P.Y.2016-17.

RAJA P M

"Do the Right Thing...!!!"

77792 Points Posted on 26 March 2018

(The provision quoted by Mr. Toshniwal is applicable from AY 2018-19,i.e., P.Y. 2017-18, not applicable for P.Y.2016-17.)

Yes... I agreed to Mr Arkabrata Kundu.,

The above said provision started from AY 18-19...

RAMAKRISHNAN R

INCOME TAX OFFICER

911 Points Posted on 26 March 2018

you may be levied penalty of RS. 5000/- (fixed) and nowadays cbdt is very much concerned about non filers and department may also prosecute for non filing of income tax return