I T Return for FY 2007-08

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Ramesh Pareek (Querist)
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31 March 2009 Hi,
I would like to know the maximum last date for belated return for FY 2007-08 and in the case of assessee whose total income does not exceed maximum amount not chrgeable to tax. Is there penalty on them for not filing IT Return before 31st March 2009.

Can a person whose total income does not exceed maximum amount not chrgeable to tax can file his ITR for FY 2007-08 after 31st March 2009. What will be the consequences if he files return after 31st march 2009.?

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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31 March 2009 belated return can be filled upto 1 yr from the end of the relevant AY or assessment gets complete which ever is earlier. here AY is 08-09 so return can be filled upto 31/03/2010 if assessment is not completed.

if taxable income is less than the excemption limit than its not mandatory to fill return.

here if ur assessment is not completed than u can file belated return upto 31/03/2010.

Ramesh Pareek

Ramesh Pareek (Querist)
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31 March 2009 Thanks Devanshi

C A GROUP COACHING

C A GROUP COACHING (Expert)
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10 April 2009 Devanshi,The querist has also asked about consequences, So would I be wrong if I say that Department / ITO can levy a penalty of Rs 5000/- at his descretion on returns filed after 31.03.2009 ?

C A GROUP COACHING

C A GROUP COACHING (Expert)
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