For a financial year ending March, deadline to file return is October. What happens if I file return in December but I have already remiitted taxes owed in May. Will there be any penalty.
Penalty on late filing of t2
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Hi Sam,
The corporate tax return filing due date is 6 months after the company’s year-end. For example, if a company has a year ending on March 31, 2024, the corporate tax return must be filed by September 30, 2024. If you pay the corporate tax balance due within 3 months of the company’s year-end but file the corporate tax return late, there will not be a late filing penalty in most cases. However, certain corporate tax forms (e.g. T1135, T1134) must be filed by the due date even if nothing is owed, or a penalty will apply.
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