Text of ITO Section 118

Method of furnishing returns and other documents.

(1) A return of income under section 114, a wealth statement under section 116, or a foreign income and assets statement under 116A, if applicable, shall be furnished in the prescribed manner.

(2) A return of income under section 114 of a company shall be furnished —

(a) in the case of a company with a tax year ending any time between the first day of January and the thirtieth day of June, on or before the thirty-first day of December next following the end of the tax year to which the return relates; or
(b) in any other case, on or before the thirtieth day of September next following the end of the tax year to which the return relates.

(2A) Where salary income for the tax year is five hundred thousand rupees or more, the taxpayer shall file return of income electronically in the prescribed form and it shall be accompanied by the proof of deduction or payment of tax and wealth statement as required under section 116 or a foreign income and assets statement under 116A, if applicable.
 

Provided that the Board may amend the condition specified in this sub-section or direct that the said condition shall not apply for a tax year.

(3) A return of income for any person (other than a company) shall be furnished as per the following schedule, namely:—
(a) in the case of a return required to be filed through e-portal in the case of a salaried individual, on or before the 30th day of September next following the end of the tax year to which the statement or return relates; or
(b) in the case of a return of income for any person (other than a company), as described under clause (a), on or before the 30th day of September next following the end of the tax year to which the return relates.

(4) A wealth statement shall be furnished by the due date specified in the notice requiring the person to furnish such statement or, where the person is required to furnish the wealth statement for a tax year under sub-section (2) of section 116, by the due date for furnishing the return of income for that year.

(5) A return required to be furnished by a notice issued under section 117 shall be furnished by the due date specified in the notice.

(6) Where a taxpayer is not borne on the National Tax Number Register and fails to file an application in the prescribed form and manner with the taxpayer’s return of income, such return shall not be treated as a return furnished under this section.