assessee has not finalised Financial Statements for FY 2013-14 so could not file IT return for AY 2014-15.what are the consequences? now how can Company files IT return as it is time barred?
Chaitali (CA) (64 Points)
02 May 2016assessee has not finalised Financial Statements for FY 2013-14 so could not file IT return for AY 2014-15.what are the consequences? now how can Company files IT return as it is time barred?
C.M.A SHANKAR JAYAN
(Probationary Officer at South Indian Bank)
(140 Points)
Replied 18 May 2016
As it is time barred thereisno provision to file the same, you should wait for inimation from the department to file the return, if your company is liable for tax audit it may face some penalty, if you want to file the same you can contact your AO and request him to give an initimation under 142(1), then you can filethe return.
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