Late Filing of Income Tax Returns

This query is : Resolved

Mohd Sarfaraz Latibani (Querist)
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13 October 2010 I have submitted my Income Tax return for the assessment year 2010-2011 but I have not submitted my return for the asst year 2008-09 and 2009-2010 and now I want to file the returns for 2008-2009 & 2009-2010 I want to know Can I file the returns now as I have already submitted my return for the year 2010-2011.

Thanks

taxindiaconnect

taxindiaconnect (Expert)
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13 October 2010 You can file your return of income for the earlier years now, however it may attract a penalty of Rs 5K for each return apart from that you can not carry forward any loss of these years, neither will you get any exemptions.

CA. Chikkerur C R

CA. Chikkerur C R (Expert)
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20 October 2010 Dear Mohd

You can file belated return fOr your asst year 2009-10.

For AY 2008-09, time is elapsed. you cannt file even belated return