Filing return of previous years return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2012 Hi,

For how many previous years can i file IT return. Is there any penalty for filing delayed return?

Regards.

Amol S Joglekar

Amol S Joglekar (Expert)
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07 June 2012 FY 2010-11 and onwards. If you need to file the returns of earlier years, write a letter to CBDT; requesting to file the returns for the earlier years.In a genuine case CBDT may allow.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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07 June 2012 The return for a particular year can be filed upto one year from the end of the Assessment Year.

If the return is filed after the end of the Assessment Year, penalty of Rs. 5,000 u/s 271F may be levied.

If the assessee is required to get his accounts audited, penalty u/s 271B may be levied.

Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2012 THANKS A LOT FOR THE DETAILS

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