Last Chance To File IT Returns of FY 15-16 & FY 16-17
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Last Chance: File ITR for FY 15-16 & FY 16-17

Changes to filing belated ITR

The saying, “Better late than never” can be applied to many situations in life.  However, everything has a time limit and some dues must be made and postponement becomes an option no longer.  The government has made considerate concessions for tax payers who have failed to file their tax returns from previous years. However, belated returns of previous years must be filed by March 31st 2018, else risk paying penalties.

Filing Belated Returns

Previously, if you had forgotten or failed to file your tax returns with thin the  due date of 31st July, you still had two years (from the end of the relevant financial year) to file your belated returns. So, for example if you had not filed your tax return for F.Y. 2015-16, then you would still be able to file till 31st March 2018. However, as per the recent amendment, for returns for F.Y. 2016-17, the deadline for filing your belated tax return is 31st March 2018.  The procedure for filing belated returns is the same as filing a regular return, except with the change in assessment year.

If you fail to e-file your return, you may receive an inquiry notice u/s 142(1) or a notice for escaping assessment u/s 148, asking for clarification on the delay in filing and allowed the opportunity to file before the date given in the notice.  If, however, you ignore the notice, then you face a penalty of 50% – 200% of the tax payable in addition to the penalty for non-filing.

Moreover, u/s 139(5) you can revise your returns filed earlier within one year of the relevant assessment year.  So, for F.Y 2016-17, you can file this return till 31st March 2018 and revise it until 31st 2019.

Penalty for Non-Filing

The penalty for belated returns was Rs 5,000 u/s 271(F).  However, after the amendment, for A.Y. 2018-19 the penalty amount for non-filing of belated returns will be Rs 5,000 if filed before December 31st of A.Y and Rs 10,000 if filed between January 1st– March 31st A.Y.  For people whose income falls below the taxable income bracket, then the late fee will not cross RS 1,000.

Additionally, if you choose to file your returns late, then the option of carrying forward your losses (except house property) cannot be carried forward to offset future gains.

Demonetisation Effect

During the demonetisation time period, individuals who made large deposits will have to file their returns for AY 2017-18.  For individuals filing their returns for the first time and whose income falls under Rs 5 lakhs, the Finance Minister has assured that scrutiny notices will not be issued.

If you fail to file your return, you may face receiving a notice, as banks will be reporting all high value deposits during the period along with the relevant PAN numbers.  If you fail to file your tax returns for the high value transactions during the demonetisation period, then you risk facing hefty penalties is high.

The saying, “good thing to those who wait”, is not applicable here because further delays in filing of your tax return will result in no good things for those who wait.  So, make an appointment with the tax advisers at H&R Block India and get your taxes prepared and filed, effortlessly.

e-File your tax returns with ease and convenience with H&R Block
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Annalakshmi Ekambaram
Annalakshmi Ekambaram
Annalakshmi is a content writer at H&R Block India. She enjoys writing about Income Taxes in a simplified manner so that everybody can easily understand it.

47 Comments

  1. Susmitha says:

    I am not tax payer if I want to submit efiling please reply

  2. SUSHIL SHARMA says:

    Respected Ma’am,

    First, i want to thank you for giving knowledge about income tax e filling, ma’am please tell me , that how will be file the ITR for AY 2015-2016 & 2016-2017,

    because by ADVOCATE mistake I failed to file for aforesaid. please give me right and helpful advice.

  3. Sagar says:

    I had filed the return if 2015-16 but i forgot to verify it what to do now

  4. Akshay Chandrola says:

    I am not tax payer. I want to fill my last 2 to 3 year tax if possible. Please give me correct direction.

  5. ASIF says:

    Madam, for ur kind information let me know that for demonetization period individuals need to file their return of income for large deposits for AY- 2017-2018 and not for AY-2016-2017.

    • H&R Block India says:

      Thanks for bringing it to our notice. We have updated the blog accordingly. Happy reading to you!

  6. Murali says:

    Can we file the ITR for the FY 2015-16 & 16-17 now? If yes, please confirm is there any penalty charges for that?

  7. Shivdeep says:

    I want to fill my return 2015_16,2016-17ad2017-18 Please give me advise

  8. Pushpinder Kunner says:

    Hey… actually i want to file NIL return for period 2015-16 and 2016-17 for my visa purposes. Actually i was not aware that ITR is required to file visa application. Is it possible in any way to file my ITR. I was not bothered at that time because i thought that i don’t fall under income tax slab therefore i didn’t filed any return. Plz help me. Its very important.

    • Khushbu Patel says:

      Hey… actually i want to file NIL return for period 2015-16 and 2016-17 for my visa purposes. Actually i was not aware that ITR is required to file visa application. Is it possible in any way to file my ITR. I was not bothered at that time because i thought that i don’t fall under income tax slab therefore i didn’t filed any return. Plz help me. Its very important

      • H&R Block India says:

        You cannot file the returns for FY 2015-16 and 2016-17 now as the last date for doing the same was 31st March 2018. However, if you have filed your return for FY 2016-17 you can revise it on or before 31st March 2019.

  9. Akhilesh M says:

    Hi I have one doubt. Please clear it. I joined an MNC in July 2016 but have not filed ITR for the year 2016-2017 as I my salary was not taxable. Now from 2017-2018 I want to file ITR. Is it possible to file both years i.e 2016-2017 and 2017-2018 together?
    Pls respond to it or mail me mallick.akhilesh@gmail.com

    • H&R Block India says:

      Hello Akhilesh,

      Our tax experts will be the best to answer this query. If you can provide us with your contact number one of our experts will get in touch with you to resolve the query. You can also get in touch with us at support@hrblock.in.

    • H&R Block India says:

      Hi Akhilesh,

      The tax returns for the year 2016-17 are now time-barred and cannot be filed unless in response to a notice from the tax department. You can file your returns for FY 2017-18 with us. Please visit http://www.hrblock.in to register and file or write to us at enquiry@hrblock.in to get in touch with our advisors.

  10. mahesh says:

    hi
    i have missed my return for f.y 2016-17 now what should i do as i am a regular assesse but this is the first time it happened.

    • H&R Block India says:

      The ITR for FY 2016-17 have now become time-barred and you can file them only if you receive any notice for filing from the tax department. Please get in touch with us at enquiry@hrblock.in to get in touch with one of our tax advisors.

  11. jas says:

    I want to file my return year of 2016-17 & 2017-18 can I file ? give me suggestions please

  12. Gogul says:

    I failed to file my IT returns for last 3 AY 2017-18,Ay 2016-17 but arrears are credited in AY 2018-19, can i still get releif u/s 89(A) and form 10 E ? As i have not filed earlier IT return is it still possible claim u/s 89(A)? Please clarify.

  13. CHANNAPPA says:

    HOW CAN I FILE ITR AY 2015-16 SOME TDS DEDUCTION IS THERE

  14. saurabh gupta says:

    Dear Team

    My CTC includes Special Allowance,can I claim any deduction against this allowance or the whole amount will be taxable.

    Thank you in advance.

    Regards
    Saurabh

  15. SUKU says:

    PLEASE LET ME KNOW TODAY I AM FILE ITR FOR THE FY 2016-17. ITS POSSIBLE OR NOT

  16. manjit says:

    Dear Sir/mam,
    I am continue filing my income tax return but forget my previous financial year 2016-17 income tax return, now can file both return 2016-17 & 2017-18 before 31st july 2018 ?

  17. Som says:

    Hi,

    I have to file tax for Assessment Year : 2017-2018 that I missed. Can you please let me know how to do that.

    Thanks.

  18. RS says:

    Is it possible to file 2016-17 manually ? Plz do reply ASAP

  19. Reshmi KP says:

    Hi ma’am,
    Your article is excellent. As you said, simple for layman to understand.
    My husband who is a proprietor failed to file itr for 2016 17. It’s time barred and window is closed. In that case, can he file for 2017 18? His firm needed tax audit for 2015 16 so last date was Sept. But for unforeseen reasons, 2016 17 was not filed even as on 31st march 2018. What about 2017 18?

  20. DevanshiJindal says:

    How can I get refund of tds for A. Y. 2017-2018 as i had not filled income tax return & it is time barred now???

  21. SANDEEP PANCHAL says:

    I WANT TO RETURN FILE FOR ASSESMENT YEAR 2017-18 BUT IT SHOWS OVER TIME FOR RETURN FILE HOW I SUBMITT MY RETURN

  22. Nutan Pardeshi says:

    I have filled ITR for the last A Y 2015 16 so now can i fill other 16 17 to till now?

  23. kartik bhati says:

    I missed my ITR for AY17-18 Can I fill it now because I need to apply for a loan. I have filled for AY16-17?? please mail me at skrtk13@gmail.com asap bcz the deadline for AY18-19 is also near. Thanks

  24. nidhi sharma says:

    HI, i missed to file my ITR for the AY 2016-2017, can i fill it now and want to claim my deducted TDS.

  25. Sandeep says:

    hello,
    I am trying to file Income tax return for FY 2016-17, but error is showing ” due date for filing this ITR under selected return filing section is over.”
    Kindly give m suggestion.

  26. Ashish says:

    I am forgat to file ITR for A.Y 2017-18.
    Can i fill ITR NOW??
    In A.Y 2018-19. for the same.

  27. sivakumar says:

    Hi,
    I have filed for assesment year of 2016-17.But i have to do revised the e-filing.How to do revising for that???.
    Please give suggestions.

  28. Dheerendra Pandey says:

    Hello,
    I am trying to file Income tax return for AY 2017-18, but error is showing ” due date for filing this ITR under selected return filing section is over.”
    Kindly give me suggestion………….

  29. KANHAIYALAL says:

    i have not filed ITR FOR AY 2017-18
    PLEASE GUIDE ME.

  30. Ankit says:

    Hey…
    Can i file my income tax return for the FY 2105-16 and 2016-17 ? If i able to file then what would be the interest rate?

  31. ram says:

    Same error for myself as well – did you find the reason?

  32. MAYUR says:

    A.Y 2016-17 and 2017-18 deadlines has been elapsed.

  33. Anju says:

    i need to file NIL itr for assessment year 17-18 for visa purpose. What should be section that should be selected under “Return filed” category ?

  34. KHANADALI says:

    WE ARE NOT FILE RETURNS OF A Y 2016-17, CAN YOU TELL HOW TO FILE RETURN NOW SUCH RETURNS

  35. Bindu says:

    Hi,

    I was out of country and promptly paid taxes in that country for the last three years and prior to leaving all my taxes were uptodate till the AY 2013-14. Now i have to file tax returns from AY 2014-15 to 2017-18.

    Please advise.

    Thanks

  36. Puneet Bansal says:

    Hi I have filed all my returns till date but due to some reasons i missed filling return for AY 2017-18. I have a refund of around 30,000/- in that year. Please suggest how can i file the return now and get my refund. I shall be grateful.

  37. PRAKASH CHANDRA MISHRA says:

    How can I get refund of TDS for A. Y. 2017-2018 as i had not filled income tax return & it is time barred now.

  38. Musayib Luqman says:

    Hi Annalakshmi Ekambaram,
    Thank you for writing this blog which is kinda helpful. I would need suggestion to file my income tax AY 2016-17 & AY 2017-18. Can you please guide me. When I tried to file I got an error ” due date for filing this ITR under selected return filing section is over.” Can you please help here. I have already filed my income tax for AY 2018-19

  39. Shirish sharma says:

    Dear sir my TDS refund of AY 2016-17 (FY 2015-16) is invalid under section 139 (9).
    Can I fill revised return of AY 2016-17 now.
    Pls help & guide.

  40. Anil dwivedi says:

    I want to file revised itr for f.y. 2016-17 . Can I able to file it

  41. SRR Singh says:

    I filed my it return for ay 2015-16 in form itr-v instead of itr-3. Can I file return in itr-3 for ay 2015-16 now. Please advise.

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