Regarding Salary

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jinesh (Querist)

21 July 2011 Dear Sir,

I have Salary Return to File For A.Y.2010-11 His Gross Salary is 480000 and Tax is Dedcuted is Rs. 25804. When I have Downloaded ITR 1 and Entered all the Data as per Form 16 and calculate the Tax then His Tax Amount is exactly matched with TDS Deducted So he is not getting ant refund .
Am I Correct in Doing So?
Second Que, he has not to file Any tax. Because he has already paid it. Is it Correct?
This return For F.Y. 2009-10( A.Y.2010-11) and I am Filing this July 2011 and
so Is there any penalty and Interest can be Levied upon him?
And He also needs to File For A.Y.2011-12 as well So How much Gap Should be between two these Returns?
First Time he is going to File this Return So F.Y. 2009-10 on wards

Thanks
Jinesh

U S Sharma

U S Sharma (Expert)

21 July 2011 for AY 2010-11, file the return as the taxes are paid, there is no burden to payment of taxes, but penalty u/s may be considered by ITO for late filing u/s 271, however its not applied in all cases, and its sole discretion of ITO to impose or not.

no need to maintain gaps, you can file on same day even for both the years.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

21 July 2011 You can file the return of AY 2010-11.
He may be liable for penalty of Rs 5000/-
U/s 271F of the Income Tax Act, 1961 as he is having taxable income and has not filed his return till 31.3.2011.

The penalty is at the discretion of the A O.

He can file his Return for AY 2011-12 now and no gap is required from the IT point of view. It is better to file his return before 31.07.2011.

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