Late filling of income tax returns.
This query is : Resolved
21 August 2013
I want to file income tax return for A.Y. 11-12 and A.Y. 12-13 now. Can it be possible and if yes than what is the consequences? and it will file under sec 139(1) only? My income is of business income and income does not exceed the taxable limits.
21 August 2013
AY 11-12 Not possible
AY 12-13 Possible with penalty of rs 5000
filled u/s 139(4)
AY 12-13 Possible with penalty of rs 5000
filled u/s 139(4)
21 August 2013
if your income is below taxable limit, you need not file the return.
21 August 2013
Agree with expert,
for A.Y. 2011-12 as it is time barred.
for A.Y. 2012-13 you can file u/s 139(4) as per advice with penalty if your taxable income is above limit and without penalty if your taxable income is below limit
for A.Y. 2011-12 as it is time barred.
for A.Y. 2012-13 you can file u/s 139(4) as per advice with penalty if your taxable income is above limit and without penalty if your taxable income is below limit
21 August 2013
Thnx everyone for your reply.
21 August 2013
He need last three year returns for loan purpose so is there any other way?
21 August 2013
no way other than illegal way
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