04 February 2015
My brother has failed to file his income tax return for the AY year 2013-14 and would like to file it now? He is a central government employee having a salary of more than Rs.5 lakhs. Is it possible to file the return now without any penalty?
04 February 2015
Yes A Return U/s 139(4)known as Belated Return can be file upto 31.03.2015 However A penalty of Rs. 5000/- u/s 271F may be levied by Income Tax Authorities as you would file the Return after 31.03.2014.
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