The Finapolis - September 2017
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A taxpayer reading this issue and who has still not filed his/ her returns for 2016-17 (assessment year 2017-18) has definitely missed the deadline. Yet, does this imply that he/ she can no longer file their income tax returns? Or can they file their returns, but will be required to pay a heavy penalty for the same? The Income Tax Act has answers to all of these questions, all the taxpayers need to remember here is that they have only missed the first deadline.
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