Return filed after due date of submission of itr-v

This query is : Resolved

Ramesh (Querist)
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28 July 2015 Hi!
Please advise:
As per notification No. 2/2015, the CBDT has extended time limit till 31st October, 2015 for submitting ITR-V forms for asst Year 2014-15 for returns filed on or after 1st April 2014 till 30th June. My query is that if any person failed to file the return till 30th June and filed the return on 15-Jul-2015what will be the consequences.
Thanking you in advance.
Ramesh

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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28 July 2015 You can send ITR V within 120 days from 15th July 2015.

Ramesh

Ramesh (Querist)
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30 July 2015 Thanks Boss. But I have doubt that if it is 120 days then what is the purpose of issuing a notification to extend the date of submission e.g. the notification I mentioned in my post. Have your comments.
Thanks agin