Filing of return of income after due date u/s 139(4)

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Shweta (Querist)
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09 August 2014 Case- Mr.A(NRI) has purchased a capital Asset in FY 2004-05 for Rs 3 Lacs. Sold it in FY 2008-09 for Rs 10Lacs. But didnot file the return of income for the capital Gains for that AY till date. Is there any way out that Mr. A can file ROI and disclose this income voluntarily. He is ready to pay the penalties and interest on that Since due date u/s 139(4) also has been expired. How can he do so? He doesnt know if he has recieved ay notice regarding that. he doesnt want that Sec 271CC attracts . Please solve ths query.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 August 2014 you need to meet the income-tax authorities requesting condonation for delay in filing of tax returns and payment of taxes. it is always advisable that you compute the tax and interest liabilities and pay it up before going to tax authorities.

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