Condonation of Delay in filling of Income Tax Return

Hello Members,

I have some queries regarding Condonation of Delay in Filling of Income Tax return. My Client was not aware and unable to file Income Tax Return for AY 2014-15 & AY 2015-16. There was Sale of Property due to which Tds protion was deducted and Paid by buyer at the time of Sale Deed Execution. Last Return was filed for AY 2013-14 and latest return filed is AY 2019-20. Client has not received any physical notice copy but it is being reflected on Compliance Portal. There is no records in Portal for condonation of delay request. My query are :

1. Can we file the belated return under Section 119(2)(b) and claim the TDS amount as refund?

2. How to file condonation of delay application in offline.

 

Suggestions are highly appreciated.

Replies (2)
Quick Summary
This discussion addresses the process of condoning delays in filing Income Tax Returns for Assessment Years 2014-15 and 2015-16. It explores the possibility of filing belated returns under Section 119(2)(b) to claim TDS refunds, particularly when property sale TDS has been deducted. The advice suggests an offline application to the Jurisdictional CIT, emphasizing that this route is primarily for refund cases and requires careful tax computation.

1. Yes.

2. Through Offline, like direct meet to Jurisdictional CIT with letter and computation of Your incomes. Must be refund cases.
Before starting any process, you download TDS statement 26AS for AY 2014-2015 and AY 2015-2016.

Check TDS amount entry relating to TDS on property transaction.

If it's there then ok to go for ITR filing but again you have to do tax computation including LTCG amount on property transaction. What tax amount is payable and what TDS amount is there.

If there is no refund is resulting then it won't be possible to get 119(2)(b) approval. On the contrary chances are imminent to receive 148 notice and all interest penal provisions will be invited.

Carefully decide and better to consult nearby CA Professional.

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