Filing return u.s 142 without any notice

This query is : Resolved

Udaya Kishore (Querist)
Follow

22 October 2014 I am observing that some people are filing belated returns which can not be filed as the time limit is over, are clicking the option of section 142 and filing the return just to show that they have filed the return for some other purpose
Please clarify whether such returns are valid returns as the system is accepting or they are not valid in the absence of notice. Whether the Dept can take any action on such returns. I think CPC will not process such returns and send them to the ITO concerned. What are the consequences of such filing. Is it a loophole in the e-filing system to mislead others by stating that the person has filed a return and eligible for bank loan or some other benefit

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

24 October 2014 without a 142(1) notice, such returns wont be valid

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

24 October 2014 without a 142(1) notice, such returns wont be valid

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vishal Kapadiya

Prashant Kotecha

Rajesh

Akash Sawant

JACOB ABRAHAM KURIALANICKAL

Subscribe Now

Filing return u.s 142 without any notice

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

GST CONSULTANT

Senior Executive

Accountant

GST CONSULTANCY