271b & 271F

If any assessee has got his books of accounts audited on 15th sep 2010 for the F.Y 09-10, and has not filed the return till today ( 26/03/2011).

Can he file the return till 31-03-2011, and in such case will any of the section from 271B or 271F would be applicable.

What will be the consequences if he files the return after 31-03-2011. i.e section 271F will only be applicable or 271B will also be trigered.

As 31-03-2011 is approaching very fastly can you please reply me as early as possible

 

Thank you

Replies (2)

 

You can file your belated return but the losses will not carry forward and both this section 271B and 271F will not applicable……

Yes u can file your belated return u/s 139(4) but ur not carried forward any losses except Unabsorbed depreciation & Loss from House Property. 271B, 271F will not applicable

Regards.

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