Late filing of return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2011
Where the original return for PY 2009 -10, AY2010-11 ,due for filing on 31-7-2010 , and that can be filed uptil 31.3.2011(By virtue of provisions of belated return ) ,has been filed only in July 2011 ,would penalty provision u/s 271(1)(c) be applicable for Rs 5000 ? Would it be a show cause notice or 143(1) intimation or penalty notice itself or any other and uptil what time do the IT dept process it?What can be expected from this delayed filing of return .All taxes due ,int u/s 234(a,b,c) all have been paid though.Please advice .Thanks in advance.
19 November 2011
As you were not concealed the particulars of income ,penalty u/s 271(1)(c) not applicable in this case.
But you have filed return for PY 2009-10( AY 2010-11)in July 2011,provisions U/s 271F be applicable where failed to file the return before end of relevant AY, AO MAY impose a penality of RS.5000.
Write a letter to the commissioner in case of show cause notice served on you, he may reduce or waive the amount of any penalty imposed.
But you have filed return for PY 2009-10( AY 2010-11)in July 2011,provisions U/s 271F be applicable where failed to file the return before end of relevant AY, AO MAY impose a penality of RS.5000.
Write a letter to the commissioner in case of show cause notice served on you, he may reduce or waive the amount of any penalty imposed.
19 November 2011
Penalty at the discretion of the Assessing Officer and they exercise their power when it is deemed to be fit so.
In case you have filed the return with tax, it may be considered as " Better late than never" and as such you may not be levied the penalty.
For penalty , you may be issued a SCN, but till it is not received, you need not to worry much.
In case you have filed the return with tax, it may be considered as " Better late than never" and as such you may not be levied the penalty.
For penalty , you may be issued a SCN, but till it is not received, you need not to worry much.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Reprocessing of rectification order AY 2025-26
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
