CA
459 Points
Joined September 2007
Section 139(4) of the Income tax act, 1961 provides that belated return may be filed with a period of ONE YEAR from the end of the relevant assessment year.
Therefore, return for the AY 2008-09 can be filed by 31-03-2010.
It may be further noted that the return filed u/s 139(4) cannot be revised u/s 139/(5).
Further if there is any bussiness or capital loss then you may file the return by the aforesaid date but the loss would not be allowed to be carried forward as per u/s 139(3) read with u/s 80.