I have a question regarding ITR filing for AY 2011 - 2012.
Case: I am salaried person having Salary income of more than Rs. 5,00,000.00 but for PY 2010 - 2011 i failed to file return. Company has already deducted my TDS
Question: If i choose option to file return will any penalty be imposed by I.Tax Authorities.
07 June 2012
No penalty for late filing of return. You can file the return before 31/03/2013. ( one year from the end of the assessment year.) This will be subject to sec 234 A, B and C
07 June 2012
The return can be filed upto 31.03.2013. However since you will be filing the return after 31.03.2012 (end of the assessment year), penalty of Rs. 5,000 may be levied u/s 271F for delayed filing of return.
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