Due dates for filing of Income tax returns

Filing of Income Tax returns is one of the major tax compliances to be made by all the persons residing in India or Abroad (having taxable income accruing or arising in India) and the non-compliance of it may entail interest and penalties. Following are the due date for filing of the ITR for Financial year 2016-17:

Details of persons Due date of filing
Persons not liable to Tax Audit:

–       Salaried individuals;

–       HUF;

–       Partnership firms (not liable to tax audit);

–       Individuals having business/ profession (not liable to tax audit);

–       AOP;

–       BOI, etc

31st July 2017
Persons liable to tax audit (Transfer Pricing provisions not applicable):

–       Companies;

–       Individual (liable to tax audit);

–       Partnership firms (liable to tax audit);

–       Partners of firm liable to tax audit, etc

30th September 2017
Persons liable to tax audit (Transfer Pricing provisions applicable):

–       Companies;

–       Partnership firms (liable to tax audit);

30th November 2017


Persons exceeding the following thresholds are liable for Tax Audit:

Criteria FY 2016-17 FY 2017-18
For persons carrying on business Total Sales exceed Rs. 1 crore Total sales exceed Rs. 2 crore (in case of presumptive taxation);


Total sales exceed Rs. 1 crore, in other case

For persons carrying on Profession Gross Receipts exceed Rs 25 lakhs Gross Receipts exceed Rs 25 lakhs

For the FY 2016-17, the returns can be filed upto March 31, 2017, without penalty of Rs 5,000 and upto March 31, 2018 with penalty of Rs. 5,000. However, payment of penalty is to be made post the orders of the Income Tax Department and not before that.

However, w.e.f  FY 2017-18, following penalties shall be levied upon late filing of returns and the same shall be payable at the time of filing of the ITR:

Time period Amount (In INR)
Return filed beyond 31st July 2018 but upto 31st December 2018 Penalty of Rs. 5,000 shall be payable
Return filed beyond 31st December 2018 but upto March 31, 2019 Penalty of Rs. 10,000 shall be payable
Beyond March 31, 2019 ITR shall not be filed

In a case where the total income does not exceed Rs 5,00,000, the penalty amount shall not exceed Rs. 1,000.

Further, interest under section 234C, 234B and 234A shall continue to be levied as per the provisions of the Income Tax Act for both FY 2016-17 and FY 2017-18.

We at Business Suvidha will help you in filing your Income Tax Returns without any hassles. Contact: +91-9953109399 or +91-9654438893 or mail us at: info@businesssuvidha.com


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