Filing ITR for 2017-18 Financial Year: Deadlines and Guidelines
Navigating the intricacies of filing your income tax return in India can be complex, especially when it comes to the specific financial year 2017-18. This article aims to guide taxpayers through the process of filing for the 2017-18 financial year and provides essential information about the filing deadlines and procedures.
Can I File ITR for the 2017-18 FY by November 30, 2020?
No, you cannot file an ITR (Income Tax Return) for the financial year 2017-18 by November 30, 2020. According to the latest updates from the tax department, the next filing period for claims and adjustments for the 2017-18 FY will only be available through 31st July 2020.
Understanding the Filing Window for FY 2017-18
You have a clear window to file your return of income for 2017-18 (Assessment Year 2018-19) between April 1st, 2018, and July 31st, 2018. During this period, taxpayers can submit their tax returns electronically or manually, subject to the submission of all necessary documentation and compliance with tax laws.
What About New Income Tax Forms?
At the onset of filing for FY 2017-18, it is important to note that the government did not introduce new income tax forms. This means that the existing forms such as ITR 1, ITR 2, ITR 3, and ITR 4 would still be applicable for the 2018-19 assessment year. However, it is always advisable to keep an eye on the official government website for any updates or changes in forms or procedures.
Online Filing - An Overview
For those opting for online filing, the e-Filing Home Page of the Income Tax Department Government of India remains the primary platform. This portal offers an interactive and user-friendly interface, facilitating the filing process for millions of taxpayers. You can access the platform anytime after April 1st, 2018, to complete and submit your form.
Conclusion
Filing your Income Tax Return for the 2017-18 FY is crucial for statutory compliance and avoiding any penalties or interest on overdue taxes. By adhering to the specified deadlines and ensuring that all required documentation is accurately submitted, taxpayers can ensure a smooth filing process. Keeping abreast of any updates from the tax authorities is also essential for any further clarification or changes.