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This query is : Resolved 

10 December 2010 Can i file itr-1 for A.Y. 2009-10 now. Refund will be arise in 2009-10.

IF Yes

What penality

10 December 2010 Yes you can file upto 31.03.2011 as belated return u/s 139(4). Max Penalty Rs 5000/-
Assessing officer can impose a penalty of 5000,and that is also his(AO) power which he may or may not exercise after giving due hearing to the assessee.


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