belated return

 yesterday i filed a return of one of our client for the assessment year 2005-06.

i read that a belated return can be filed before the expiry of one year from the end of the relevant assessment.

considering these facts is it possible to file the return.The IT dept has accepted my saral form (for the ay 2005-06) without any objection. I feel that the time has expired for the return and therefore should not  be accepted.

Am I wrong. Please clarify.

Replies (5)

Belated return can be filed before expiry of one year from the end of the relevant assessment year. In your case return should be filed before 31st March, 2007. If you file later then this date then it will attract penalty of Rs. 5000 if tax is payable or paid. But if its nil return then they can accept your return without charging penalty.

Correct me if i am wrong...

The tax return has to be filed before the end of assessment year. If the return is not filed before the end of AY then the return can be filed within one year from the end of AY along with the int on delayed payment. The AO may demand the penalty of Rs. 5000 u./s 271F if the return is filed after the end of AY. In any case if the return is filed after 12 months from the end of AY, then it ll be considered as Invalid return.

SInce u hv filed the return after one year from the end of AY, ur return is Invalid.

 

in my case the return was not a nil return and it dept accepted my return.

 

If ur Return was not NIL return. Then AO can Impose Penalty on you by Sum of Rs. 5,000/- u/s 271 F

 

hellowww,

according to me mr. Ramlinga is right , the return filled by you is an invalid return and i dont know how deptt. had accepted ur return.

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