New Delhi: The end of financial year 2017-2018 is March 31, but this time the particular date is crucial for those who have not filed their Income Tax Return (ITR) for the last two assessment years (AY).
Income Tax Department has fixed March 31, 2018 as the last date to file tax returns for AY 2016-2017 and 2017-2018.
The Income Tax Department too has been constantly reminding taxpayers to file their tax returns for the aforesaid on its portal.
The Financial Year 2017-18 closes on March 31, 2018 which is a Saturday. Meanwhile March 29 and March 30 are also closed holidays.
However, to facilitate filing of Income Tax Returns and completion of associated work, all Income Tax Offices throughout India shall remain open on March 29, 30 and 31 respectively.
The ASK Centers will also be kept open on these days. “All efforts will be made to provide assistance to taxpayers and to facilitate filing of returns by them,” the IT department has said.
Notably, tax returns for fiscal 2016-17 (assessment year 2017-18) were originally to be filed by 31 July last year. But in view of the reports that the e-filing website was facing glitches, the deadline was extended. Reports say that IT department will not further extend the date beyond March 31.
However, tax payers should not confuse this deadline with current financial year, ITR filing for which is on or before July 31.
How to file belated return
The process of filing belated return is the same as that of filing regular ITR. You need to select ITR form applicable to you and fill the form in the same manner as when you filed the return on time and choose the assessment year for which you are filing the belated return.