Filing of I T R

This query is : Resolved

Pankaj Agrawal (Querist)
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22 December 2009 Assessee (a partnership firm) filed his Audit Report in hard copy to Local Income Tax Office on 30.11.2009 for A.Y. 2009-10, But Return of Income could not be filed on 30.11.09 (to be filed e-return).
Can he file his R O I now, will it attract any penalty or any other late filing consequences.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 December 2009 As per section 44AB audit report has to be furnished by the specified date. Specified date as per explanation (ii) is 30th September 2009. Thus the assessee has violated the provision of the said section . Consequence is Penalty provisions as per section 271B attracts. If the assessee can prove that the failure was on account of a reasonable cause penalty proposal will be dropped as per section 273B.
However he can file the return now after paying tax, if any, along with interest as per section 234A,B and C if applicable.

Murtaza I Bhagat

Murtaza I Bhagat (Expert)
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22 December 2009 yes mr. warrier sir is right. Now its over time to file your ROI bcs due date for your Return was 30,Sept'09 afterthan you have paid penalty u/s 234A and 234B,C suppose.

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