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can we file tax return till march 2011 for AY2010-2011

josh (IT) (256 Points)

30 July 2010

Hi,

The final date to file tax return for FY2009-10 is july 31 2010. Can we file the tax return for FY2009-10 till march 2011. If we file the tax return after july 31, in that case are we allowed to file the revised return or not ? One of my friend told me that if i file the returns after july 31st due date , i will not be allowed to file the revised return if the situation arises to file such return.Can someone from this forum confirm this.

Thanks

Josh

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16 Replies

Umaid Singh Shekhawat (Chartered Accountant) (25 Points)
Replied 30 July 2010

yes you can file the return even after 31 july 2010. Incase there is tax payable you have to pay interest and if there is no tax due i.e tax has alredy been deducted at source than interest is not payable.This belated return can be filed upto 31.12.2012 but filing the return after 31.03.2010 there is a penalty u/s 271F. If the return is filed before the prescribed due date you can revise the return if need so but if a belated return is revised there will be legal complications.

SUDHIR & PRADEEP JI (CA FINAL+LLB + DISA) (2299 Points)
Replied 30 July 2010

YES U CAN FILE ITR TILL MARCH 2011

CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 30 July 2010

Originally posted by : Umaid Singh Shekhawat
	yes you can file the return even after 31 july 2010. Incase there is tax payable you have to pay interest and if there is no tax due i.e tax has alredy been deducted at source than interest is not payable.This belated return can be filed upto 31.12.2012 but filing the return after 31.03.2010 there is a penalty u/s 271F. If the return is filed before the prescribed due date you can revise the return if need so but if a belated return is revised there will be legal complications.

agree,

penalty u/s 271F is leviable, if the person requied to file return does not files return upto the end of relevant A.Y.

venkatraman shrinivas (Tax consultant/Tax Advocate In Practice.) (313 Points)
Replied 31 July 2010

Youy can file your return before 31.3.2012. However, you may have to pay interest under section 234A., 234B and C, in case any tax is due and payable under section 140A of the Act. In case the tax due is covered by TDS in full there could be no such levy. Similarly penalty under section 271F is leviable, if the return is not filed before 31.3.2011.You may also note that your option to file a revised retrurn under section 139(5) gets forfeited, if you do not file the return within the normal time, which is 31.7.2010 for normal cases and for cases covered by tax audit ,30th September,2010.

ALPESH KUMAR (SUPRITENDENT) (140 Points)
Replied 31 July 2010

Originally posted by : josh

Hi,

The final date to file tax return for FY2009-10 is july 31 2010. Can we file the tax return for FY2009-10 till march 2011. If we file the tax return after july 31, in that case are we allowed to file the revised return or not ? One of my friend told me that if i file the returns after july 31st due date , i will not be allowed to file the revised return if the situation arises to file such return.Can someone from this forum confirm this.

Thanks

Josh

Hi josh

yes, u can file the return upto 31/03/2011 subject to interest if any applicable if tax is to be payble on returned income. u can also file revised return within one year of filing of original return or processing of original return which ever is earlier. But if there is no tax payable on returned income then u sud not take any tension to file the return by 31/07/2010. U can file till 31/03/2011.

CA Anshu Agarwal (B€ @LW@¥$ ]-[@Pp¥) (1832 Points)
Replied 31 July 2010

belated return cannot be revised....

kishan (e) (61 Points)
Replied 31 July 2010

YES, TODAY IS THE LAST DATE OF FILING THE RETURN..IF U R LIABLE TO FILING RETURN.FILING RETURN LAST DATE IS 1 YEAR FROM THE END OF RELEVENT ASS.YEAR OR COMPL.OF ASSEST.WHICHEVER IS EALIER ..IF U WILL FILING UR RETURN AFTER 31ST JULY THEN U WILL NOT REVISED UR RETURNS U CANNOT ADJUST UR LOSSES IN NEXT YEARS ..THERE R LOTS OF LOSSES IF U WILL NOT FILE UR RETURN TIMELY..IF U WILL FILE UR RETURN AFTER THE END OF ASSES.YEAR THEN AO MAY CHARGE PENALTY US 271F OF RS.5000.U CANT BELATED RETURN REVISED US 139(5)..ONLY SECTION 139(1) FILE WILL REVISED........

venkatraman shrinivas (Tax consultant/Tax Advocate In Practice.) (313 Points)
Replied 31 July 2010

I agree, Anush is perfectly right that belated return cannot be revised. The option of filing revised return before completion of assessment is open, only for such persons who originally file the return within the time allowed under section 139(1).

CA Namrata ghosh (CA) (55 Points)
Replied 31 July 2010

yes,belated return can be filed within 1yr from the completion of the a.y or before the completion of the assessment whichever is earlier. Belated return can not be revised u/s 139(5) If you submit your return after completion of 1yr from the end of a.y then you have to pay Rs.5000 as penalty u/s 271F along with interest u/s 234A,B,C. You can not carry forward any loss if u file belated return u/s 139(3)

CA Namrata ghosh (CA) (55 Points)
Replied 31 July 2010

kishan , i think not only return filed u/s 139(1) but return filed in response to the notice u/s 142(1) can also be revised.

(Guest)

Originally posted by : Namrata ghosh
	yes,belated return can be filed within 1yr from the completion of the a.y or before the completion of the assessment whichever is earlier. Belated return can not be revised u/s 139(5) If you submit your return after completion of 1yr from the end of a.y then you have to pay Rs.5000 as penalty u/s 271F along with interest u/s 234A,B,C. You can not carry forward any loss if u file belated return u/s 139(3)