sanjay (FCA) (322 Points)
05 January 2011Hi
If itr for a.y. 2009-10 is filed now electronically, is department sending notice for 5000.00 penalty, theoritically panelty is there, but during last year we have file 3-4 returns with similar problem and no notice for 5000 panlety has been recieved by any of our clients.
I would be thankful if practicing professionals share their experience.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 January 2011
Respected Sanjay Sir,
Belated Return for A.Y 2009-10 can be filed up to 31st March 2011. Hence the Income Tax Department cannot send a notice in such a case for penalty of5000/- to the assessee.
Happy New Year.
Regards,
Devendra Kulkarni
shashank jaiswal
(finance executive)
(38 Points)
Replied 11 January 2011
sory devendra i dont agree with you the income tax authority are right if they are asking for penalty
belated return is a privilge to the assessee that they can file their return after paying the penaltybecause they were not able to file the return till the end of A.Y. 2009-10 i.e. 31.3.2010
shashank jaiswal
(finance executive)
(38 Points)
Replied 11 January 2011
sory devendra i dont agree with you the income tax authority are right if they are asking for penalty
belated return is a privilge to the assessee that they can file their return after paying the penaltybecause they were not able to file the return till the end of A.Y. 2009-10 i.e. 31.3.2010
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