By : CA ,Manoj Kohli 1st August : You can file return after 31st July without any interest or penalty if .
1. All taxes have been paid by you as advance tax or deducted at source by 31st March.
2. You do not have any loss to carry forward. In case of late return , you will not be allowed to carry forward the loss.
3. You do not want to revise the return.