Benefits of extension of itr due date

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karan (Querist)
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30 September 2014 Though the due date for filing return has been extended to 30 November,but still the interest u/s 234A is applicable. Therefore,I would like to know the benefits for all tax payers from such extension.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 September 2014 You will be able to carry forward loss. You will be able to revise the return if required. Above all you get extension of time otherwise one could not file IT Return without filing Tax Audit Report. Only interest under section 234A has been made applicable as per the order of Gujrart High Court.

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