Belated return

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Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2014 What are the consequences if i have not filed my Return of F.Y.2012-2013 even before 31st march 2014???

Can I filed the same now???
If yes then what are the penalties for the same?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 August 2014 Belated Return for FY 2012-13 i.e., AY 2013-14 can also be filed u/s 139(4) From 01.04.2014 to 31.03.2015 or completion of assessment whichever is earlier but subject to a Maximum penalty of Rs 5000/- u/s 271F.

Levy of penalty is at the discretion of AO after giving assessee a reasonable opportunity of being heard. He may or may not impose the penalty. No need to pay penalty at the time of filing of return.

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Rupesh Jain

Rupesh Jain (Expert)
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04 August 2014 your can file return till 31.3.2014 or completion of assessment whichever is earlier. you may pay penalty of Rs. 5000/- for non filing of return.

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