Return of commission agent filed u/s 44ad after due date
This query is : Resolved
26 March 2014
Dear All,
If I.T.Return of commission agent for A.Y.13-14 is filed after due date u/s 44AD, what will be its consequences?????
Will refund be issued by the Department????
If I.T.Return of commission agent for A.Y.13-14 is filed after due date u/s 44AD, what will be its consequences?????
Will refund be issued by the Department????
26 March 2014
Please note that 'commission agency'business is not covered u/s 44AD. Please see clause (ii) or (iii) of sub section 6 of the said section inserted through Finance Act,2012.
Department may either treat the return as 'defective' under intimation to the assessee or issue notice u/s 148.
Whether refund will be issued now on the said return is a vexed issue on account of the above observations.
Department may either treat the return as 'defective' under intimation to the assessee or issue notice u/s 148.
Whether refund will be issued now on the said return is a vexed issue on account of the above observations.
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