Belated returns (itr)

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This query is : Resolved

Nitesh Kumar Sharma (Querist)

12 March 2015 Dear Experts,
I am confused regarding ITR due dates & filing etc.
Please help:

Question: As on today i.e. 12/03/2015, An individual (Audit not required)can file ITR for how many past years including current year?

Please be specific in AY and FY.
Thanks

Moksha Kalyan ram A

Moksha Kalyan ram A (Expert)

12 March 2015 Belated return is a return filed after the due date, in case of an individual without audit obligation it would be 31st July.

In case of non filing, you can file it anytime before 1 year at the end of relevant assessment year.

In case of revised return, before assessment is complete.

As on 12th March 2015, you can file for 2 years namely, assessment years 2013-14 and 2014-15

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

12 March 2015 Belated return u/s 139(4) can be filed for AY 2013-14 & 2014-15 upto 31.03.2015.

Return of AY 2013-14 will be subject to levy of Penalty u/s 271F.

271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.

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