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Due date for Filing Income Tax Return & Consequences of not filing IT Return within Due Date

25 Jul,2018

Due date for Filing Income Tax Return & Consequences of not filing IT Return within Due Date

The Income Tax Depart Act has prescribed various due dates for filing of Income Tax Return by different class of assessees. Section 139 of Income Tax Act, 1961 provides for following different due dates for different class of assesses:

  1. 30th day of September of Assessment Year in following cases
    1. Company – e Companies registered under Companies Act, includes body corporates registered under law of a foreign country.
    2. Person (other than company) whose accounts are required to be audited under this Act or under any law for the time being in force. For example, Societies required to get books of accounts audited under Societies Act, LLP required to get books audited under LLP Act etc. Section 44AB of Income Tax Act  prescribes that Books of an Assessee is required to be audited if turnover of business exceed Rs 1 Crore or Gross Receipts of Professional Exceed Rs 50 lakh, hence these cases are covered under this due date.
    3. a working partner of a firm whose accounts are required to audited. Remuneration of working partner of a firm is linked to profit declared by the firm, that is reason person tax filing due date for working partner is same as applicable to the firm.
  2. 30th Day of November of the Assessment year in case of Assessees who is required to get Transfer Pricing Audit done under Section 92E of Income Tax Act,1961
  3. 31st Day of July in case of Assessees who are neither companies nor otherwise required to get the books of accounts audited.

Belated filing of Income Tax Return  & consequence of not filing IT return within the due date :

Belated Filing :

If the return is not filed within due date same can still be filed within the end of Assessment year, i.e March 31st of the year following the financial year.  For example if Return pertain to Financial year 2017-18, the assessment year is 2018-19, and if the return is not filed within due of July 31st or Sep 30th of 2018, belated return can still be submitted by March 31st 2019.

Consequences of not filing IT return within the due date :

  1. Late fees of Rs 5,000 is applicable if the return is filed by December 31st of Assessment Year / Late fees of Rs 10,000 is applicable if return is filed after December 31st of Assessment Year. ( Late fee will be limited to Rs 1,000 for those with income up to Rs 5 lakh).
  2. Carry forward of losses (other than loss under House Property) are not allowed unless return is filed within due date.
  3. Interest under section 234A @ 1% per month becomes applicable on amount tax payable after the due date. This is in addition to interest @ 1%  per month under section 234B. So on any tax which is not paid within the due date for filing return, interest required to paid @ 2%  per month on taxes paid after due date. It is advisable to deposit tax before the due date, even if for some reason return can’t be filed before due date to avoid interest @ 2% per month.

Let ADCA (Excellent team of chartered accountants near HSR layout) do the ITR filing fo you to get the maximum benefits of tax saving.

Check Your Income Tax outstanding Amount E Filling portal

23 Jul,2018

Recently Few of them are shocked to see the outstanding Income taxt amount appearining at e-filing portal of income tax deportment.


Income Tax Departmrnt has updated the software to check regulary and clear ur outstanding income taxt amount.

Submit response to Outstanding Tax Demand process step by step:

Step 1: Login to and check Refund/Demand status menu.

Step 2: If there is any outstanding tax demand, the “Response to Outstanding Tax Demand” will appear showing demand amount along with A.Y. for which demand exists.

Step 3: You can submit your response by selecting correct option. Option available is

  • Demand is correct
  • Demand is partially correct and
  • Disagree with demand.

Step 4: If you select demand is correct then you cannot disagree with the demand letter.

Step 5: If you select other options i.e. demand is partially correct or disagree with demand, you will have to provide reasons for exercising the option along with documentary evidence.

Step 6: Based on the reason selected, the assessee needs to provide additional information as below
Demand Paid:

  • BSR Code
  •  date of payment
  •  serial no
  •  Amount
  •  If challan doesn’t have serial no you will have to upload challan

Step 7: Demand already reduced by rectification/Revision/Appeal: Upload rectification order passed by AO and provide information on date of order, pending demand amount after rectification, etc.

Step 8: Rectification / Revised Return filed at CPC: If you have filed rectification for the demand amount, provide acknowledgement No of rectification application filed online. In case if you have filed revised return, you need to provide e-Filed acknowledgement No of the revised return.

Step 9: Rectification filed with AO: If you have filed rectification application manually to the jurisdictional assessing officer, provide date of filing application.

Once assessee submits the response, transaction id will get generated which can be viewed later.

Anil D'Souza & Associates are providing CA service, you can write a mail to, required any CA service


23 Jul,2018

Petitioner asks whether he and his wife are residents of Yonkers, as opposed to New York City, for purposes of paying personal income taxes, when the entire physical house in which they reside is located in Yonkers and the front yard is located in the Bronx. 

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