Due dates for filing the ITR for the Financial Year 2017-18 is round the corner and this time very stringent section 234F for imposing late fees/penalty has been invoked to cause the assessee to file the income tax return well within the time frame.

Below is the summary of penalty that will be imposed in case of failure to file the ITR within the due dates.
FOR THE YEAR ENDED 31ST MARCH, 2018 (Assmt. Year 2018-19) LATE FEE ON DELAY IN FILING INCOME TAX RETURN, under section 234F is given hereunder:
1. If ITR is filed in the period 01/04/2018 – 31/07/2018 : Late Fee NIL
2. If ITR is filed in the period 01/08/2018 – 31/12/2018 : Late fee Rs. 5000
If the total income is not exceeding Rs.5 Lakhs then, this Late fee will be restricted to Rs. 1000
3. If ITR is filed in the period 01/01/2019 – 31/03/2019 : Late Fee Rs. 10000
So pull up your socks and get your ITR filed well before the due date i.e. 31/07/2018 and avoid any last time rush and glitches on the e-filing portal of the Income Tax Department.