Income tax return filing

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 May 2012 Dear All,

can assessee file belated return for Assessment Year 2010-11 even after completion of one year from the end of relevant assessment year ie now in the month of may, can assessee file the belated return to avoid the penalty, if the total income does not excess the amount which is chargeable to tax?

please reply fast..

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 The belated return for AY 2010-11 could have been filed upto 31.03.2012. Now the return has become time barred and CANNOT be filed.

If the income of the assessee does not exceed the exemption limit then he is not required to file a return and no penalty will be levied on him for non-filing return.

Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2012 thanks for the reply..
is there a way to escape penalty and file a return of income through a legal route, if the taxable income exceed the basic exemption limit??

what is the way to file return of income thru legal route?? whether penalty can be escaped and return can be filed???

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 As I said the return as become time barred and the return cannot be filed. There is no option.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2012 thank you..
i think thr shd be some way to escape penalty if the assessee has not filed the return yet?

if the assessee pays the penalty amount, can he file the return of income then??/

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 May 2012 The AO will serve on the assessee a notice u/s 142(1) requiring him to furnish a return. Then the assessee can file a return u/s 142(1). The AO may levy a penalty for not filing return of income.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2012 hmmm, thank you..
can assessee write a letter to AO seeking some sort of relaxation for delay filing of return of income for that AY and escapement of penalty????

has AO power to grant relaxation in the matter? can he do so?

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2012 and what is the possible way, if the assessee has to file the return of income in any case?

as you said that, AO will serve a notice upon assessee to furnish the return of income? what is the time limit for servicing a notice by AO, if the time for filing the belated return has already expired?

can AO also escape to issue the notice under section 142(1)??? or is it necessary for AO to issue to the notice u/s 142(1) if the assessee has not file the belated return yet???

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 May 2012 1. Saving penalty - If the AO issues a notice for levying penalty, then the assessee can reply to the notice and give reasons for not filing the return.

2. AO may or may not issue a notice requiring the assessee to furnish a return. If the AO does not serve any notice on the assessee, the assessee cannot file a return.

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