belated itr

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sanjay

FCA

310 Points Posted on 05 January 2011

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.

Replies (3)

Devendra

Chartered Accountant

3769 Points Posted on 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

47 Points Posted on 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

47 Points Posted on 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

regards

Shashank Jaiswal