Non filling of firm return

This query is : Resolved

PRAMOD PANDIT M.COM , CA FINAL (Querist)
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01 November 2011 one of the partnership firm since from ay 08-09 it return not filed and profit approx 9 lakh in same year. as date of filing lapsed what consequences will faced by department or what remedy available now?
please help ! thanks

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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01 November 2011 Penalty U/s 271f Rs. 5000 levied for non filling of return for each assessment year

department can do income escaped assessment u/s 147...if department has reason to believe that assesse has escaped income.

firm is compulsorily required to file return u/s 139(1).

PRAMOD PANDIT M.COM , CA FINAL

PRAMOD PANDIT M.COM , CA FINAL (Querist)
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02 November 2011 thanks vishal rana sir, firm ready to pay tax but now how to file belated return as e-return not uploaded since date of return filling lapsed? can i file with taking all previous income in current year?

Sundaram Kumar

Sundaram Kumar (Expert)
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02 November 2011 No you can file mannual return in Income Tax Department Counter or you can contact your Income Tax Officer with request to accept your beleted returns

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