Belated return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2016 Dear sir,
Belated due date for filing Itr's of A.y 14-15 is 31.03.2016 .My question is when i tried to file Itr-1 of A.y 14-15 after 31.03.2016 in income tax efiling site it's showing popup as the end date for the filing ITR over but i came to know that on submitting the Itr 4s of A.Y 14-15 after 31.03.2016 it's accepting in the e-filing department.How it's possible as the due date of A.Y14-15 is 31.03.2016 for all the tax payers?

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
Follow

28 May 2016 No, it is not possible. Last date for AY 2014-15 was 31st March 2016 for the ITR.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

Note : If you find our reply useful. Please Score us by clicking on "THANK USER"

Querist : Anonymous

Querist : Anonymous (Querist)

31 May 2016 No Sir, it's taking ITR-4s u/s142(1)

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
Follow

31 May 2016 Yes , if you have received the notice the notice you can file it not only ITR 4S even other ITR also. Income tax return filing U/s 142(1) means you are filing the return after getting the Notice.

Notice under Section 142(1) is usually served to call upon documents and details
from the tax payers, and to take a particular case under assessment.
The basic purpose is to inquire the details of the assessee before making assessment
under the Act. It can be related to ‘Preliminary Investigation’ before starting the assessment.
By serving a notice u/s 142(1) the assessing officer, may call upon the assessee:
1. To furnish a return of income in respect of which he is assessable, where he has not filed his return of income within the normal time allowed.
– It may include return in respect of his own income or income of other person for which he is liable to be assessable. Example In case of legal guardian/ deceased person.
2. To produce accounts or documents which the AO may require for the purpose of making an assessment.
3. To furnish in writing any information on matters including statement of the assessee. For Example statement of assets and liabilities of the assessee on a particular date.

The AO may or may not start assessment after compliance with this notice, dependent upon the facts of assessee. If AO is satisfied with the produced documents or return, he may not start with the assessment process.
Compliance with this notice u/s 142(1) is mandatory even if the tax payer is of the opinion that the accounts/documents requested are irrelevant.
If assessee do not comply with the provisions of this section:
– It may result in Best Judgement Assessment u/s 144, or
– Penalised under Sec 271(1)(b) i.e. Rs10,000 for each failure, or
– Prosecution under Sec 276D which may extend upto 1 year with or without fine.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

Note : If you find our reply useful. Click on THANK USER button to convey your appreciation.

Message likes : 1 times