File Your IT Return for Past two Financial years by March 31

You need to file your I-T return for past two financial years by March 31

Income-tax return for the financial year 2016-17 (which is for the income earned during the period April 1, 2016 up to March 31, 2017), the clock is ticking.

This belated return needs to be filed over the next few days by March 31. Even the deadline for filing a belated return for the financial year 2015-16, falls on the same date.

The I-T department is increasingly getting stricter. In addition to notices for recovery of tax and penal interest, it is also serving prosecution notices on defaulting taxpayers. Thus, it is imperative to bear this deadline in mind.

The change in deadline for filing of belated returns was introduced by the Finance Act, 2016, via an amendment to section 139(4) and now comes into effect for the first time.

A belated return (which means an I-T return which is filed late beyond its original due date) can now be filed before the expiry of twelve months from the last day of the financial year, as opposed to twenty four months that was available prior to this amendment.

To create public awareness, a series of advertisements were rolled out, says an I-T official. “As far as individuals are concerned only those who income chargeable to tax in India, is below the taxable limit do not have to file I-T returns.

Some salaried individuals, even if they earn above Rs. 2.5 lakh a year are under the mistaken belief that as I-T has been deducted at source, by the employer they need not file their return,” he adds.

The amended provisions of section 139(4), which are applicable for the financial year 2016-17 onward require that any person who has not furnished a return within the time prescribed under section 139(1) may do so at any time before the end of the relevant assessment year or before the completion of assessment, whichever is earlier.

To illustrate, a salaried individual had to file his I-T return for the financial year 2016-17 by July 31, 2017. If he or she has not done so, the last chance to file a belated I-T return is March 31, 2018.

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ओपिनियन पोल
छत्तीसगढ़ की आगामी विधानसभा चुनाव के लिए डिजिटल मीडिया ‘’ नेसटीक ओपिनियन पोल करनेका निश्चय किया है. अतः आप नीचे दिए सवालों के निष्पक्ष जवाब देंताकि राज्य की आने वाले दिनों की सही सियासी तस्वीर सामनेआ सके. कृपया अपना मत जरूर दें- With assembly election ahead
विधानसभा क्षेत्र
फ़ोन नं
विधानसभा चुनाव में सबसे बड़ी पार्टी कौन सी होगी ?
किस पार्टी को ज्यादा सीटें मिलेगी?
अगले मुख्यमंत्री के रूप में किसे देखना चाहेंगे?
क्या आपके क्षेत्र में विकास दिखाई पड़ रहा है?
क्या छत्तीसगढ़ का किसान भाजपा शासन से संतुष्ट है?
जो रोजगार छत्तीसगढ़ सरकार ने दिया, क्या उससे युवा वर्ग संतुष्ट है?
राज्य सरकार ने महिलाओं के सशक्तिकरण के लिए जो किया, उससे महिलाएं संतुष्ट हैं?
क्या आप अपने विधायक से संतुष्ट हैं? उन्होंने अपने वादे पूरे किए या अधूरे हैं उनके काम?
क्या आप अपने क्षेत्र की सरकारी सुविधाओं सेसंतुष्ट हैं?
क्या नक्सली समस्या पर नियंत्रण हुआ है?
क्या प्रदेश के मंत्रियों के कामकाज से संतुष्ट हैं?
-देश हित के लिए मतदान अवश्य करें-

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