Late filling of it return

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2013 can i fill return for FY 2010-11 & 11-12 return on 1/4/2013 as a nil...?

PALASH

PALASH (Expert)

01 April 2013 PLEASE TRY TO UNDERSTAND THAT, IT RETURN MAY BE NIL & MAY BE TAXABLE & IT IS COMPLETELY IRRELEVANT MATTER & THE ACTUAL NORMS IS ---> FOR F.Y 2010-2011--> YOU CAN'T FILE YOUR IT RETURN , BECAUSE TIME ALREADY EXPIRED ON 31/03/2013. BUT IN CASE F.Y 2011-2012--> YES, YOU CAN FILE YOUR RETURN EVEN AFTER 31/03/2013 & UPTO 31/03/2014, BUT SUBJECT TO A PENALTY OF RS 5000/= FOR LATE RETURN FILING.
Thanking You,
PALASH RAKSHIT.

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2013 Thanks sir,
but
if i fill return on today for FY 2011-12 so penalty of rs.5000/- is applicable..?

PALASH

PALASH (Expert)

01 April 2013 YES , PENALTY APPLICABLE OF RS 5000/= AFTER 31/03/2013 FOR A.Y 2012-2013 , BUT SUBJECT TO THE DISCRETION OF THE ITO/ASSESSING OFFICER & UNFORTUNATELY , IF PENALTY IMPOSED , THEN IN THAT CASE , YOU HAVE TO PROVE YOURSELF BEFORE THE ITO ( THROUGH AN APPLICATION AGAINST ORDER 143(1)) , THAT IT'S NOT AN INTENTIONAL/DELIBERATE MISTAKE WITH PROPER DOCUMENTARY EVIDENCE BUT GENERALLY IT'S NOT HAPPEN ( SPECIALLY NON TAXABLE FILE )AS FAR AS MY EXPERIENCE IS CONCERNED.
Thanking You,
PALASH RAKSHIT.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now