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Late return

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 December 2011 One Can File return of Income with in one year from the end of relevant assessment year. But my query is that if that person is having salary income and refund is due then can he get the refund by filing belated return.
In other words can Mr. A get the refund of for the AY-2010-11 & 2011-12 if he files the return of income for those year in the month of december 2011.

13 December 2011 Filing a belated return does not mean that the assessee will not get refund.

For AY 10-11, the last date is 31.03.2012. However, since the return will be filed after 31.03.2011, a penalty of Rs. 5,000/- can be levied.

For AY 11-12, return can be filed upto 31.03.2013. However, it is advisable to file the return before 31.03.2012 to avoid penalty.

The assessee will get the refund.


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