FILING OF BELATED RETURN

This query is : Resolved

VIJAY KUMAR SHARDA (Querist)
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19 August 2010 AN ASSESSEE WHO HAS NOT FILED HIS RETURN FOR THE FINANCIAL YEAR 2007-2008 ( ASSMT; YEAR 2008-2009) CAN HE FILE NOW? AS PER RETURN THERE WILL REFUND SAY Rs.3,000/- WHETHER PENALTY OF Rs.5,000/- is levied FOR LATE FILING? WILL THE DEPARTMENT ACCEPT THE SAID RETURN?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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19 August 2010 F. Y. 2007 - 08 return cannot be filed now as the last date was 31.03.2010 to file it belatedly. So u cannot file now.

If F. Y. 2008 - 09 return filed now then A. O. may levy penalty of Rs. 5,000/- even in case of refund.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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19 August 2010 agreed,
definetly AO may levy Penalty which means you have are paying excess Rs. 2000/- (5000-3000) against Refund Amount.
and you are almost 5 month last for last chance.
so better to file in due time.

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