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BELATED RETURN OF ASESSEE UNDER TAX AUDIT-AY-2008-09

Tax queries 2024 views 6 replies

Can belated return be filed under income tax act by an assessee covered under Tax audit. Tax audit report has already been signed on due date, but assessee had not filed the return for AY 2008-09. Assessee is Individual. What will happen  in case of Partnership firm.

 

 

Replies (6)

No, in case of Tax Audit u/s 44 AB, Belated Return Can't be filed. As there is penalty u/s 271 B of Income Tax Act if the Assessee failed to file the Audit Report on or before the Due Date. But in this case assessee has to pay the Penalty of Rs. 100000 or 0.50 % of Turnover whichever is more u/s 271 B of Income Tax Act, 1961

Now tax audit report is not required to be filed with return. Go and file the return.

file return before 31st March, 2009 to avoid Penalty of Rs. 5000.

Hi

- Person require to audit can file beleted return, but have to pay panalty u/s 271B (Rs. 100000 or 0.50 % of Turnover whichever is more)

- Plus if return filled after end of A Y then panalty u/s 271F

- as the assess has comple audit before due date, but only return is not filled within due date for unavoidable reason (to be proved) than panalty can waived.

- even if no tax audit report is required, but return have to file before due date

 

Pradeep

 

Sir :

 i have not filed my income tax return on astt.yera 20082009,tax audit case now i have ready to file the return ,tds deducted and deposit in my account ,asst year 20082009 my tax due is nil refund amount is Rs.90000 please sugession for return filed now.

Originally posted by : ramesh

Sir :

 i have not filed my income tax return on asst.year 20082009,tax audit case now i have ready to file the return ,varrious party tds deducted for asst year 20082009 my  tax due is adjusted to tds amount and balance amount  Rs.90000 is claim on refund. please suggession for return filed now.


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