mumbai if you havent yet filed your incometax it return for the financial year 201617 which is for the income earned during the period april 1 2016 up to march 31 2017 the clock is ticking this belated return needs to be filed over the next few days by march 31 even the deadline for filing a belated return for the financial year 201516 falls on the same datethe it department is increasingly getting stricter in addition to notices for recovery of tax and penal interest it is also serving prosecution notices on defaulting taxpayers thus it is imperative to bear this deadline in mindthe change in deadline for filing of belated returns was introduced by the finance act 2016 via an amendment to section 1394 and now comes into effect for the first time a belated return which means an it return which is filed late beyond its original due date can now be filed before the expiry of twelve months from the last day of the financial year as opposed to twenty four months that was available prior to this amendmentto create public awareness a series of advertisements were rolled out says an it official as far as individuals are concerned only those who income chargeable to tax in india is below the taxable limit do not have to file it returns some salaried individuals even if they earn above rs 25 lakh a year are under the mistaken belief that as it has been deducted at source by the employer they need not file their return he addsthe amended provisions of section 1394 which are applicable for the financial year 201617 onward require that any person who has not furnished a return within the time prescribed under section 1391 may do so at any time before the end of the relevant assessment year or before the completion of assessment whichever is earlierto illustrate a salaried individual had to file his it return for the financial year 201617 by july 31 2017 if he or she has not done so the last chance to file a belated it return is march 31 2018for earlier years say for the financial year 201516 a taxpayer could file a belated it return any time before one year from the end of the relevant assessment year thus for the financial year 201516 also the due date for filing a belated return falls on march 31 2018 for the financial year 201516 even the deadline for filing a revised it return to correct errors in the original return falls on march 31 2018it should be noted that this deadline of march 31 2018 does not apply to your income earned during the financial year 201718 if you are a salaried employee the deadline for filing your it return for the financial year 201718 is july 31read this story in teluguon its part to facilitate taxpayers the it offices across india shall remain open on march 29 and 30 which are otherwise public holidays