How to File Belated Return for Ay 2017 18

What is the Income Tax?

There are two types of tax levy one is a direct tax and the second one is an indirect tax. Income tax is a direct tax that is directly attributable to the income of the assessee. Income which is generated from the various head of income viz.Salary, House Property, Business, Capital Gain and Income from other sources. The assessee has to pay Income tax if his total Income after allowing Chapter VI-A Deduction is more than the taxable income limit.

Income Tax Changes Due to Covid-19 Pandemic

• "Time limit for intimation of Aadhaar number to the Income tax Department for linking of PAN with Aadhaar has been extended from 30th September, 2021 to 31st March, 2022."
• "The due date for completion of penalty proceedings under the Act has also been extended from 30th September, 2021 to 31st March, 2022.". Read more
• CBDT department again extended the due date of several ITR forms, read press release
• "Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic", read circular
• "Instruction sheets for filling of ITR-2,3,5,6 & 7 revised for better clarity". Read more
• ​Order u/s 119 of the Income-tax Act, 1961 regarding extension of dates for filing of belated and revised ITRs for the A.Y. 2019-20″. Read Order
• "Government to infuse Rs 50,000 crores liquidity by reducing rates of TDS, for non-salaried specified payments made to residents, and rates of Tax Collection at Source for specified receipts, by 25% of the existing rates"
• "For delayed payments of advanced tax, self-assessment tax, regular tax, TDS, TCS, equalization levy, STT, CTT made between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period."
• "Necessary legal circulars and legislative amendments for giving effect to the aforesaid relief shall be issued in due course."

Filing Income Tax Return Due Dates for FY 2020-21 (AY 2021-22)

There is a different category of taxpayer viz. Individual, HUF, Firm, LLP, Company, Trust and AOP/BOI. Due Date is different according to audit or non-audit case of such categories as defined in section 139(1)

Last Date of Income Tax Return Filing for AY 2021-22 (Non-Audit Cases)

• The common due date of filing the Income Tax Return by Assesse whose Books of Account are not required to be audited is 31st July 2021. The revised due date is 31st December 2021, read press release
• CBDT: "The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st December, 2021"

Filing Income Tax Return Due Date for AY 2021-22 (Audit Cases)

• The general due date for filing the Income Tax Return for the audit cases is 31st October 2021. The CBDT has extended the due date till 15th February 2022.
• "The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st October, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 15th February, 2022"

Due Dates for Tax Audit Report (3CA-3CD/3CB-3CD)

• The due date for filing of Tax Audit Report for all categories of assessees whose account are required to be audited extended till 15th January 2022.
• "The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which is 30th September, 2021, as extended to 31st October, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 15th January, 2022"

Revised & Belated ITR Due Dates for AY 2021-22

• The due date for filing a revised and belated income tax return for AY 2021-22 has revised by CBDT till 31st March 2022.
• "The due date of furnishing of belated/revised Return of Income for the Assessment Year 2021-22, which is 31st December, 2021 under sub-section (4)/sub-section (5) of section 139 of the Act, as extended to 31st January, 2022, vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st March, 2022"

File Tax Returns for A.Y. 2021-22 before 31st March with INR 10,000 Penalty

The income tax department notified the taxpayers for late filing of tax returns for A.Y. 2021-22, along with a penalty of INR 5000 (on filing the return after the due date but on or before 31st December) and INR 10000 (on the filing of return after 31st December to 31st March). The taxpayer has to file the late filing of tax returns for A.Y. 2021-22 before 31st March anyhow. Also to note that the penalty is applicable even if the taxpayer files the returns before 31st March while there is no option to file the returns after 31st March 2022. However, if the taxpayer's total income does not exceed Rs 5 lakh, then the maximum penalty levied for delay will not exceed Rs 1000.

Note: From AY 2021-22, the last date of filing belated and revised return has been amended to 31st March 2022 but there is still no amendment under section 234F.

Last Date of Income Tax Return Filing for AY 2021-22

(Assessee who are required to furnish report under sec 92E)

• The due date of filing the Income Tax Return by Assesse who are required to furnish a report under sec 92E is 30th November 2021. The govt has extended the last date till 28th February 2022.
• "The due date of furnishing Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which is 31st October, 2021, as extended to 30th November, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st January, 2022"

Advance Income Taxes Filing Due Dates FY 2020-21

If the tax liability is more than Rs 10,000 in a financial year then advance tax needs to be paid by the assessee.

15th June (15%) | 15th Sept. (45%) | 15th Dec. (75%) | 15th March (100%)

The assessee who are covered under section 44AD and 44ADA (i.e. Presumptive Income), are also required to pay the advance tax on or before the 15th march of the previous year. However, any tax paid till 31st March will be treated as Advance Tax

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide the updated information. You can raise any query on matters related to blog content. Also, note that we don't provide any type of consultancy so we are sorry for unable to reply to consultancy queries."

Pradeep Kumawat is a Chartered Accountant from Jaipur. He completed his B.Com from University-Commerce College. Currently, he is working with SAG Infotech Pvt. Ltd. and pursuing his career in the field of taxation. View more posts

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How to File Belated Return for Ay 2017 18

Source: https://blog.saginfotech.com/income-tax-return-due-dates

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