2. Where the assessee is a Company 30th September of the Assessment
Year
Where the assessee is a person other
than a company:-
• where accounts of the assessee are
to be Audited or
• a working partner of a firm whose
accounts are required to be audited
under the Income Tax Act or any
other law
30th September of the Assessment
Year
Any other assessee 31st July of the Assessment Year

3. If Assessee missed to file income tax return with in the due
dates then:
Assessee can also file belated tax return under section 139(4)
before the expiry of one year from the end of relevant
assessment year or before the completion of assessment
whichever is earlier. (i.e. up to 2 years from the end of financial
year in which income earned).
For example:
Tax Return for Financial year 2012-13 can be filed up to 31st
March, 2015.
Note:
No revision is possible of belated return (Return filed after the
due date).

4. No Tax Liability Pending:
Where tax on income of assessee has already paid in form of TDS,
Advance Tax, etc then the tax return can be filed till the end of
assessment year without any penalty but if filed after the end of
assessment year then penalty of Rs.5,000 u/s 271F, will be levied.
Penalty in this case is on discretion of Assessing Officer.
Tax Liability Exists:
Sometimes assessee forgets to consider few incomes such as if he had
worked under two employers but forgets to show salary received from
first employer, thus owes taxes to the Government. The return filing
date without penalty of Rs.5,000 remains same i.e. till the end of
assessment year but interest of 1% per month shall be levied on the
amount of unpaid tax u/s 234.

5. Carry Forward Losses:
One need to take utmost care in this situation because as per section
80 if assessee fails to file tax return within prescribed time u/s 139(1)
then he will not be able to carry forward the loss of that year and thus
looses the benefit of set off of these losses against the income of next
year. However, there is an exception to this rule i.e. this rule is not
applicable on the losses from house property, which means House
Property losses can be carried forward even if the income tax return is
filed after the deadline.
Tax Refund instead of Tax Liability:
In case Government owes money to you i.e. you have any Tax refund
then you can file the return even after 31st July of the assessment
year without any issue. The only disadvantage will be that your refund
will be processed late and you will get your money late.

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