1. The department, in public advertisements issued in leading dailies, said it was the final call for filing of belated or revised ITRs for assessment years 2016-17 and 2017-18.
Here are five things that you must know about this warning on income tax returns issued by the income tax department:
2. It said all companies, firms and limited liability partnership concerns were also required to do so.
3. "If you have deposited large amounts of cash in your bank account/made high value transactions, please consider the same while filling your ITRs. Non-filing or incorrect filing of return of income may result in penalty and prosecution," the public advisory said.
4. The deadline is also applicable, it said, to trusts, associations and political parties whose income prior to claim of exemptions exceeds the minimum chargeable to tax.
5. Individuals and Hindu Undivided Families having income more than Rs 2.5 lakh and senior citizens with income of over Rs 3 lakh (60-80 years of age) and Rs five lakh (over 80 years of age) too need to file their returns for the mentioned assessment years, it said. (With PTI Inputs)