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Last date to file income tax return for assessment year 2018-19 related to financial year 2017-18 unlike earlier years is 31st March, 2019.
Pursuant to amendment in the section 139(4) of the income tax act, 1961 the return of income after the due date as mentioned in section 139(1) i.e. for individual, HUF, firms and other person not liable to audit under any statutory legislation is 31st July and 30th September for other person liable to Audit, can be filed up to the end of relevant assessment year for which the return of income pertains.
So similar to A Y 2017-18 the last date of filing the return of income as 31st March 2018, the last date of filing the return of income for A Y 2018-19 is 31st March, 2019. It is also important to remember that the return of income can be filed after payment of late fee of Rs.1000/- in case the total income does not exceed Rs.500,000/- and Rs.10,000 in other cases.
It is also important to remember that for A Y 2017-18 return of income could be revised, even it is filed belated u/s 139(4), up to 31st March, 2019, however for assessment year 2018-19 the last date for filing revised income tax return is 31st March, 2019.
So every tax payer or assessee who is required to file income tax return u/s 139 shall file income tax return for A Y 2018-19 by 31st March, 2019 or also revise income tax return for A Y 2017-18 or A Y 2018-19 by 31st March, 2019.
