Mandatory requirement to file return:

 Every person being….

 Company or firm or
 Being person other than a company or a firm, if
his total income which he is assessable to tax
(Before claiming deduction u/s 80C to 80U)
during the previous year exceeded the maximum
amount chargeable to tax.
 Any person holds as a beneficial owner or any
asset located outside India or has signing
authority in any account located outside India or
 is a beneficiary of any asset located outside India
 Due Date for Filing return

Assessee Due Date

Any assessee who is required to furnish transfer 30th November of
pricing report to international or specified relevant assessment
domestic transaction year

(i) Any person whose accounts being audited 30th September of

(ii) Any working partner of firm (where accounts relevant assessment
of the firm being audited) year

In case of any other asessee 31st July of relevant

assessment year
 Any person who sustained loss in any
previous year and claims that such loss
should be carried forward – shall mandatorily
furnish return of loss within the time allowed
U/S 139(1).
 If return is not filed within due date, such
loss can not be carried forward. However this
condition does not apply to unabsorbed
depreciation and loss under the head “
Income from House Property”.
 Any person who has not furnished a return on
or before the time as allowed U/S 139 (1)
can still file a belated return
 Belated return can be filed anytime before..
 The end of the relevant assessment year
or
 The date of completion of assessment

 Whichever is earlier
 Any person who has furnished a return on U/S
139 (1) OR (4) can still file a revised return
return
 Revised return can be filed anytime before..
 The end of the relevant assessment year
or
 The date of completion of assessment

 Whichever is earlier
 A revised return replaces the original return.
Therefore, a return may be revised any number
of times within time limit U/S 139 (5)
 Infollowing cases return will be regarded as
defective:
 Annexure, statements and columns in the return
of income have not been filed
 Return of income has not been accompanied by:
 Statement showing computation of tax on returned
income
 Proof of tax claimed to have been deducted or
collected a source, advance tax paid and self
assessment tax paid
 Tax audit report u/s 44AB copy of such report
 Proof of deposit made under capital gain account
scheme
Assessee Verified By

(i) Individual Himself/ person duly authorised

When Individual absent Himself or any person duly authorised by

from India him in this behalf holding power of
attorney of such individual
When he is mentally His guardian or any other person
incapacitated competent to act on his behalf
(ii) H.U.F Karta

Where Karta absent Any other adult member of the family

from India or mentally
incapacitated
(iii) Company Managing Director
Assessee Verified By

(iii) Where M.D is unable to verify Any other director

or where there is no M.D
When company is not Any person who holds a valid power
resident in India of attorney from the company
When the company is in The liquidator
liquidation
When Company’s The principal officer
management is taken over by
the government
Where the Co has made The insolvency professional
application for corporate
insolvency
Assessee Verified By

(iv) Partnership firm Managing Partner

Where for any unavoidable reason, Any other partner not being
managing partner is not able to a minor
verify or there is no managing
partner
(v) Limited liability Partnership Designated Partner

Where for any unavoidable reason, Any other partner

designated partner is not able to
verify or there is no designated
partner
(vi) Local Authority Principal officer
Assessee Verified By

(vii) Political party CEO

(viii) Association of person Any member or principal
officer
(VI) Any other person That person or some other
person who is competent to
act on his behalf
 Assessee is required to compute self
assessment tax payable by him after
considering the following:
 Tax already paid under provision of the Act
 Amount of tax deducted at source or collected
 The return of income filed U/S 139 or in
response to notice u/s 142 (1) shall be
processed in the following manner:
 Total income or loss shall be adjusted after
making the following adjustment:
 (i) any arithmetical error in the return
 (ii) an incorrect claim which is apparent from any
information in the return
 (iii)Disallowance of loss claimed
 (iv)Disallowance of expenditure indicated in the
audit report but not taken into account in
computing total income
  (v) disallowance of deduction
 Before making such adjustment, an
intimation shall be provided to the assessee.
The response, if any, given by the assessee
shall be considered before making
adjustment. In case of response is received
within 30 days of issue of such intimation.