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Can i submit online return for a.y 2012-2013 ??????


PALAS (NOTHING)     26 October 2013

PALAS
NOTHING 
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Friends,,

I have already submitted IT Return ( through online ) for A.Y 2013-2014 on 30/06/2013 of A LIC Commission Agent ,

but

For A.Y 2012-2013 not yet filed till date because no TDS was credited for that particular PAN for a.y 2012-2013 due to clerical mistake as wrong PAN SUBMITTED OF THAT PARTICULAR AGENT DURING TDS RETURN OF THAT PARTICULAR LIC BRANCH OFFICE for a.y 2012-2013 .

NOW, SR. Branch Manager of that particular LIC BRANCH OFFICE Assured me to submit a REVISED TDS RETURN ( With Correct PAN NO. OF THAT AGENT ) FOR A.Y 2012-2013.

My question :

AFTER REVISED TDS RETURN, IF 26AS SHOWS FULL AMOUNT OF TDS ( AS PER FORM 16A ) FOR A.Y 2012-2013 FOR THAT PARTICULAR LIC AGENT ..

NOW , CAN I SUBMIT ONLINE RETURN FOR A.Y 2012-2013 ???????

Plssss response as early as possible ..

Thanks..


(Guest)

Yes u can file before 31st march 2014 and if there is refund , it will be issued also by the department . Infact , refunds related to A/Y 2012-13 are issued on priority basis by Income Tax Department.

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Amrit Dalmia (Indirect Tax Consultant)     26 October 2013

Amrit Dalmia
Indirect Tax Consultant 
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Yes, I agree with Ashish. You can very much submit the return for the A.Y. 2012-13 before 31st March 2014 as a belated return. It cannot be revised further under any condition. So, take extra care.

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CA ADITYA SHARMA (CA IN PRACTICE )     26 October 2013

CA ADITYA SHARMA
CA IN PRACTICE  
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yes you can                                                                                                                    

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Himanshu Sharma (Subject Matter expert)     27 October 2013

Himanshu Sharma
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Just a quick question on above, I trust there is penalty clause also on belated returns of 5000.00, is it going to be applicable here?

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Sandeep Joshi (ACCOUNTANT)     27 October 2013

Sandeep Joshi
ACCOUNTANT 
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Respected all. I want to fill return of my father for AY2013-14. This year we sold our house & purchase new house agst this sale. We sold house in rs. 250000 & purchase new in rs 210000. So what amt can i saw in itr . And how amt taxable in this matter. Pls refer me on this matter detaile .....

G Krishnamohan (Advocate&Tax Consultant)     27 October 2013

G Krishnamohan
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Not only delete account try to book under the provisions of cyber law

Dhruv Nandani (Chartered Accountant)     27 October 2013

Dhruv Nandani
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Yes. Penalty may be levied by the department if the return is filled after Assessment Year u/s 271F. However, it is not necessary that the penalty will be levied. Also, if levied waiver is possible u/s 271B if the reason for delay is genuine.

Dhruv Nandani (Chartered Accountant)     27 October 2013

Dhruv Nandani
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Sorry, the section for waiver is 273B

NiTiN JAiN (TAX CONSULTANT & CA FINAL STUDENT)     27 October 2013

NiTiN JAiN
TAX CONSULTANT & CA FINAL STUDENT 
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Yes penalty of Rs 5000 can be levied, but only if the ITR is ataxzble Return. It means if the total income is more than the minimum exemption limit.


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