belated return

Tax queries 1876 views 3 replies

Guest

dear friends

i know that we can file our belated return with in one year from the end of assessment year but i want to know that if a person does not file his return in the above mention period then what will happen.whether AO itself can determine our tax liability after this period.whather we can file our return after this period is there any proviso.what are the panalities in this case.if suppose ITR related to refund then can we claim refund after this period.some similar doubts also plz reply.

thanks & regards

tarun rustagi

Replies (3)

daya shankar singh

CA CS

629 Points Joined March 2010

AO get power to make BJA u/s 144 within 21mths from the end of relevant AY after the time limit of retun filing u/s 139(1) or time allowed u/s 142(i) has been expired unless return has been file before BJA.

No benefit of filing the return after the expiry the time limit of sec. 139(4) but u have one time option u/s 273A to disclosed his income to commisioner

If u not file the return u/s 139(1), then penalty has been levied by AO u/s 271(1)(c) and also not eligible to claim refund