Pannel for not filling reurn on time

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Devesh (Querist)

07 January 2012 what if a salaried assess not filled his return yet for A/Y 2011-12 though his employer has deducted tax and given him Form 16 in April 2011.

Plz suggest me and also tell me the penal he may be charged by IT authorities...

Thank u...

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

07 January 2012 He need not worry. There is no penalty leviable till 31.03.2012.

He may file his return after this "Makar-Sakranti" also in a good "Muhurtha".
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Penalty -Rs 5000/- .
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Devesh

Devesh (Querist)

07 January 2012 Sir in this case is he liable to pay any penalty..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

07 January 2012 Right now he is not liable.
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He should not wait until penalty proceedings start against him.
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As I told , he should be advised to file his return before 31.03.2012 without any fear of penalty.
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If on 16.01.2012, at 12.35pm(IST) if he files his return, he has bright chances of getting refund against the extra TDS deducted in his Form 16.
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Devesh

Devesh (Querist)

12 January 2012 thank u sir....:)

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