02 August 2013
If a company or a person(especially charitable trust) whose accounts are required to be audited under the Income tax act fails to file the return till 30th september as per section 139(1) , can the person file the return till the end of assessment year without paying any penalty?
02 August 2013
Yes return can be filed till the end of relevant Assessment Year without paying any penalty but remember belated return filed u/s 139(4) can not be revised under section 139(5) and loss if any can not be carry forwarded.