Income tax returns

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Vivek (Querist)
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01 October 2012 Dear Sir,
One of the assessee has tds dededution of 10 to 15 lacs in each financial years.
However he did not file any income tax return yet. Now he wants to file his IT returns for AY 2010-11, AY 2011-12 and AY 2012-13. Whether still it is possible to file IT return for AY 2010-11?
If yes then what is the procedure and it would be better to file electronically or manually.

Please advise me.

aadish

aadish (Expert)
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01 October 2012 You can file returns of above mentioned years, but remember-
AY 12-13 = can file upto 31.0.2013
AY 11-12 = file it immediately but late filing penalty of 5000 may be levied by A>O
AY 10-11 = same as above

In addition to penalty interest under various sections like 234A, 234B, 234C, shall be applicable

and there is no difference of manual and e-filing, so go for e-filing of returns.

Vivek

Vivek (Querist)
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01 October 2012 But, AY 2010-11 is timebared from the purview of the act. Whether the cpc will consider the return for AY 2010-11.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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01 October 2012 You can file the returns only for AY 11-12 and AY 2012-13.

The return for AY 10-11 could have been filed upto 31.03.2012.

Since the same is time barred, the return CANNOT be filed now.

aadish

aadish (Expert)
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01 October 2012 Than ks for correcting, yes Ay09-10 return cannot be filed now, since its TIME BARRED.

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