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File your Income Tax Return for Assessment year 2018-19 before due date

File your Income Tax Return for Assessment year 2018-19 before due date

There are the 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).

Due date of filing the Income Tax Return by assessee whose Books of Account are not required to be audited is 31st July 2018.

Due date of filing the Income Tax Return by assessee is 30th September 2018 for following class of persons:

  • A company
  • A Person (Other Than a Company) whose accounts are required to be audited under this Act or under any other law for the time being in force, or
  • A working partner of a firm whose accounts are required to be audited under this act or under any law for the time being in force

Due date of filing the Income Tax Return by assessee who are required to furnish report under sec 92E is 30th November 2018.

According to the Section 234F of the Income Tax Act a fee for non filing (or late filing) of the Income Tax Return within due date prescribed under section 139(1) of the Act is leviable. The same is leviable in respect of the IT returns for the Assessment Year 2018-19 and onwards.

(a) five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;
 (b) ten thousand rupees in any other case:

Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.

The above fee is not leviable in respect of each and every case of non filing / late filing of return. The same is leviable only if the conditions as prescribed in section 234F are existing i.e.

Condition 1: There must be a mandatory requirement under section 139 of the Act to file the return; and

Condition 2: In those cases where there is a mandatory requirement, there must be a failure to file the return within the due date prescribed under section 139(1) i.e., 31st July / 30th September / 30th November.

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