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

Efiling 1573 views 14 replies

PALASH

Nothing

2000 Points Joined June 2012

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..

Replies (14)

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.

Amrit Dalmia

Indirect Tax Consultant

912 Points Joined August 2010

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.

CA ADITYA SHARMA

CA IN PRACTICE

16719 Points Joined May 2011

yes you can

Himanshu Sharma

Subject Matter expert

258 Points Joined November 2011

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?

Sandeep Joshi

ACCOUNTANT

66 Points Joined August 2013

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

18 Points Joined June 2007

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

Dhruv Nandani

Chartered Accountant

800 Points Joined January 2012

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

800 Points Joined January 2012

Sorry, the section for waiver is 273B

NiTiN JAiN

TAX CONSULTANT & CA FINAL STUDENT

155 Points Joined September 2008

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.

Nikhil Kaushik

Fellow CA

86871 Points Joined June 2009

Dear Palash,

File your return at the earliest possible. last date is 31 March 2014.

make sure you don't make errors as belated return can not be revised.

Nikhil Kaushik

Fellow CA

86871 Points Joined June 2009

Dear Sandeep,

the taxability shall depend on the cost of the house you sold. So without that detail, no one can give you a definitive answer.

With regards to tax exemption, assuming that you can claim exemption under Section 54, most probably you won't be liable for any tax.

Himanshu bansal

CA FINAL

79 Points Joined February 2010

hello mujhe pata hai mai late hu par fir bhi. mere 1 client ka 1500 tds deduct hua hai a/y 2012-13 par usne return nahi bhari uski income bhi 100000 se kam hai agar abhi return bharte hai uski to penalty lagegi kya.