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234 A

Tax queries 983 views 12 replies

ASSUME A PERSON, PAYS HIS ENTIRE TAX ( RS.3,00,000)  WITHIN THE PREVIOUS YEAR.(2009-10) AND FILED RETURN WITHIN THE DUE DATE . FOR THIS CASE DUE DATE IS 31ST JULY 2010.

 

LATER HE REALISES THAT LOSS ON HOUSE PROPERTY WORTH RS.10,000...IS TO BE CLAIMED.. HENCE HE REVISED THAT RETURN ON 31ST JULY 2011.

NOW WHETHER IT WILL ATTRACT INTEREST U/S 234 A , FOR NOT FILING RETURN WITHIN THE DUE DATE, SPECIFIED?

Replies (12)

there will b no interest u/s. 234A if original return is filed before due date...

 

revised return in this case can b filed upto 31.03.2012 or completion of assessment whichever is earlier...

rrevised return substitutes the original return from the date on which original return was filed...

 

Regards...

ya right there is no intt. u/s 234 since return is filled before due date so there is no q arise of intt. one can revised the return before the completion of assesment or end of one year from the completion of a.y whichever is earlier

I am totally agreed with Mr. Kushal & Rahul....

Originally posted by : rahul jain

ya right there is no intt. u/s 234 since return is filled before due date so there is no q arise of intt. one can revised the return before the completion of assesment or end of one year from the completion of a.y whichever is earlier
yes i m agree with rahul

AGREED WITH ALL FRIENDS...

Totally agree with all my frns.........

On Revision of return u/s 139(5),it is presumed that the revised return was filled on the date when the return u/s 139(1) was actually lodged.......

Ya totally agree with the above friends interest would not attract on the revised return , if the tax payment and filled the return with in the due date , The assessee can Revise the return and claim the loss from HP

Originally posted by : Kushal Bansal

there will b no interest u/s. 234A if original return is filed before due date...

 

revised return in this case can b filed upto 31.03.2012 or completion of assessment whichever is earlier...

rrevised return substitutes the original return from the date on which original return was filed...

 

Regards...

RIGHT

I agree with all my friends

Ya, i agree with all my friends as the time limit for filing revised return u/s 139 (5) is

i) within 1 year from end of the relevant A.Y i.e 2010-2011 or

ii)completion of assessment which ever is earlier.

yes i also agree


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