Filing of return for ay 2012-13

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Bhavik (Querist)
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18 February 2014 Can I file the return for AY 2012-13, if the return for AY 2013-14 is already been filed?

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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18 February 2014 yes till 31.3.2014 as per sec 139(5) can file revise return.

Bhavik

Bhavik (Querist)
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24 February 2014 What if original return for AY 12-13 not filed but AY 13-14 is filed in time??

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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24 July 2024 Yes, you can file the return for Assessment Year (AY) 2012-13 even if you have already filed the return for AY 2013-14. Here's how it works:

1. **Filing AY 2012-13 after AY 2013-14:** If you missed filing the original return for AY 2012-13 and have already filed the return for AY 2013-14, you can still file the return for AY 2012-13 belatedly. In India, taxpayers are allowed to file belated returns within a specified period after the end of the relevant assessment year. As per current rules, you can file a belated return for AY 2012-13 by March 31, 2023.

2. **Consequences of Late Filing:** While you can file a belated return, please note the following consequences:
- **Interest:** You may be liable to pay interest on any tax due and unpaid for the period from the original due date of filing till the date of actual payment.
- **Penalties:** Depending on the circumstances and the amount of tax involved, there could be penalties under certain sections of the Income Tax Act. However, if there is no tax payable or if all taxes have been paid before filing the belated return, no penalties are usually levied.

3. **Procedure for Filing Belated Return:** To file a belated return for AY 2012-13:
- Use the relevant ITR form for AY 2012-13. You can find this on the Income Tax Department's website or through authorized e-filing portals.
- Fill out the form accurately with all income details, deductions, and tax liabilities.
- Calculate any tax payable and pay it along with applicable interest (if any).
- Submit the return online (if e-filing) or physically to the Income Tax Department.

4. **Benefits of Filing Belated Return:** Filing a belated return allows you to regularize your tax compliance status. It ensures that you fulfill your legal obligation and avoid potential penalties and notices from the Income Tax Department.

In summary, yes, you can file the return for AY 2012-13 after filing the return for AY 2013-14. It is advisable to do so at the earliest to avoid further accumulation of interest and potential penalties.

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