What will happen if you don't file your Income Tax Return by 31st March 2018?
Hi everyone, Are you too getting some sms from Income Tax Department like "L aw has changed and ITR for AY 2016-17 & AY 2017-18 cannot be filed after 31st March 2018", which means a fter 31st March 2018, 2 Years ITR filing will stop and only 1 year filing can be filed. As per previous law return for FY 2016-17 was possible to file till 31st March 2019 but now that is not possible. So it is advisable to file your Income tax Return on Time. Did you think what will happen if you do not file Income Tax Return on Time? In case one has not filed return since FY 2015-16 then the person will loose 2 years of Income Tax filing of returns. Income Tax Returns are required for many important work like: 1. Applying for loans : Its quiet a common practice for bankers to ask for the last 2 to 3 years of tax returns filed while applying for car, home loans, personal loan, Bank OD etc. In such a situation, if you don't have one or two year' inc