Non filing of income tax return of assessee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 October 2011
Sir,
i have prepared tax audit report of the assessee before 30th sep,2011. but due to non availability of digital signature on time , i could not file the income tax return of the same assessee before 30th sep. and the same is being filed by me on 1st oct,2011. In this case what are the consequenses for non filing of ITR?
i have prepared tax audit report of the assessee before 30th sep,2011. but due to non availability of digital signature on time , i could not file the income tax return of the same assessee before 30th sep. and the same is being filed by me on 1st oct,2011. In this case what are the consequenses for non filing of ITR?
CA. Rajesh P. Ahir
(Expert)
04 October 2011
As per my understaning about your situation,
you have got the Audit done with-in the time limit (i.e. 30 Sep.), But the Return of the income has not been filled with in due date as is the same (30 Sep.)
Now you can not caary forward the Losses to the Next years, and there may be penalty u/s 234 for late filling of the return.
you have got the Audit done with-in the time limit (i.e. 30 Sep.), But the Return of the income has not been filled with in due date as is the same (30 Sep.)
Now you can not caary forward the Losses to the Next years, and there may be penalty u/s 234 for late filling of the return.
05 October 2011
You can not revised the return
you can not get set off of the loss next year
May be ITO fine penalty U/S 234 but very less chances of it.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
you can not get set off of the loss next year
May be ITO fine penalty U/S 234 but very less chances of it.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
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