Income tax return - salaried

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Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2012 Dear All,
can we file Income tax return for the year 2009-10, 2010-11 now??
If yes what are the penalty or interest if any.
What are the forms to be used?

Please assist..

CA Pooja Agarwal

CA Pooja Agarwal (Expert)

15 October 2012 you can file a belated return within one year from the end of the relevant assessment year..
for 09-10 end of relevant Ay- 31st march '11,belated return could have been filed by 31st march'12..

in case of 10-11,u can still file belatd return by march'13

CA Pooja Agarwal

CA Pooja Agarwal (Expert)

15 October 2012 along with a fine of rs. 5000

Querist : Anonymous

Querist : Anonymous (Querist)

15 October 2012 Dear Pooja,

I dont have any tax liability but I have some Refund to get. Tats the reason i thought of filing the returns.

what can be done Please assist??

CA Pooja Agarwal

CA Pooja Agarwal (Expert)

15 October 2012 if all your taxes are paid, there is no penalty for filing late. However, if there is some tax due, you have to pay interest of 1% per month of delay on the amount payable..

The Income Tax Department picks up cases for scrutiny at random and if it is discovered that you have unpaid taxes, a penalty of up to 300% of the amount can be slapped on you. The minimum penalty is 100% of the outstanding tax.

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CA Pooja Agarwal

CA Pooja Agarwal (Expert)

15 October 2012 u cannot claim the refund of FY 09-10 ..as far as 10-11 is concerned ,after paying the penalty of rs. 5000 and interest @ 1% p.m if any tax is refundable, you can claim that

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