Tax-payers are allowed to file what is termed a belated return even after the due date – July 31, which was extended to August 5 this year – has elapsed. However, you need to complete this process by the end of the assessment year, which is March 31, 2018 in case of financial year (FY) 2016-17. Moreover, returns for the financial year 2015-16 can also be filed until this date, a leeway that will not be available for the next assessment year since the rules were modified last year. “Effective financial year 2016-17 (assessment year 2017-18), a belated return can be filed till the end of the relevant assessment year. Thus, time available for filing a belated income tax return for AY 2017-18, would be up to March 31, 2018 and not March 31, 2019,” says Suresh Surana, founder of tax advisory firm RSM Astute Consulting. Earlier, tax-payers were allowed to complete the process by the end of one year from the relevant assessment year.