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What is the last date of filing income tax return for the financial year 2015-16?


Date: 28 Mar 2016    Group: Government    Category: Central Government   

What is the last date of filing income tax return for the financial year 2015-16? Is it same as the assessment year 2016-17? What is the last date of payment of income tax due for the said period? In case the income tax is not deposited before due date, then what may be the possible repercussions?
Awaiting advice from experts.


Wondering about the last date for filing IT? Looking out for rules from the IT department? Find responses from experts on this page.


Author: Mahesh    28 Mar 2016      Member Level: Gold     Points : 2  (Rs 2)    Voting Score: 0

Here are the dates for the tax filing.

In case of ITR for Accounting Year 2014-15 the last date to file the tax is before 31st March 2016. After this the late charges will apply.

In case of ITR for Accounting Year 2015-16 the last date for the tax filing is 30 June 2016. Extended dates are yet to be declared.

Paying the tax after the due dates are going to be with extra tax fees. But you can do the same.


Author: Partha Kansabanik    28 Mar 2016      Member Level: Diamond     Points : 2  (Rs 2)    Voting Score: 0

For the Accounting Year 2015-16, the last date for filing return is 30th June, 2016. However, every year this date is extended up to 31st July. However, for the last Accounting Year, the date was extended up to 31st August, 2015.

Author: Venkiteswaran.    29 Mar 2016      Member Level: Diamond     Points : 4  (Rs 4)    Voting Score: 0

For Financial Year 2015-16, which is same as Assessment year 2016-17, one has to calculate and pay advance latest tax by 31 st March 2016. Govt facilitates payment of tax till midnight that day.

The Income Tax returns can be filed from April 1 st 2016 and before 31 st July 2016, if that date is not extended.

One should take care that one considers all type of income eligible and due and received during the FY. However there can be some minor variations when the actual return is filed. In case it is minor and genuine reason, then the extra tax payable will be shown in the return itself. That can be remitted when the assess met is taken up and IT authorities intimate us in proper challan.

Interest is recovered for the amount due to be remitted as advance in each quarter, but not remitted or partly remitted.

If we have paid more tax, IT dept will refund the extra with interest if any eligible. But if tax is due and small amount due to justifiable reason, they will demand that with interest if any. Major difference in income and tax computation and for unjustifiable reasons may invite penalty also.





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