A taxpayer is required to file the Income Tax Return is supposed to file the Income Tax Return for the income earned in the previous year. The due date of filing the return for Individuals and HUF’s (who are not liable to tax audit) w 31st August 2018, for the Financial Year 2017-18. The government extended the due date of ITR filing the return of income due to certain situations, from 31st July 2018 to 31st August 2018.
There were a couple of taxpayers, who failed to file their Income Tax Return on or before the due date. They later completed their Income Tax e-filing with certain amount of penalty. Recently, the Income Tax Department has announced that the taxpayers are required to file their Income Tax Return for the Financial Year 2017-18 with penalty by 31st March 2019. Any E-filing of Income Tax Return done after this date will be considered invalid.
So, if you have not filed Income Tax Return yet and you have a taxable income, then you must file your ITR on or before the last date. You must know that; Income Tax Return is the only proof of your Income in India and it has several benefits associated to it.