scg (ed) (44 Points)
07 July 2017Following SMS received from IT deptt on 13 June'17
Quote "ITR V of PAN AAAXXXXX3B for AY 2011-12 has been received but rejected due to filing date has exceeded the due date."unquote
I do not know what needs to be done now. Will some one be kind enough to advise? Thanks
S C Goswami,
Delhi
Sarath Kumar
(Practicing Chartered Accountant )
(42 Points)
Replied 07 July 2017
You cannot file return for AY 11-12 now.
Regards
Sarath
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 08 July 2017
AY 11-12 , you got to be kidding me .
signed copy ITR-V must be submitted within 120 days of filing of ITR .
Since the dead line passed your copy has to be rejected & It will be considered that you have not yet filed your return.
And now you can't even file the revised return to remedy the situation . u can't do for the AY 11-12.
scg
(ed)
(44 Points)
Replied 08 July 2017
Thanks for a prompt reply.In the return under reference,i had given details of sale of flat but no capital gains tax was payable.There was to be refund of Rs 6000+.What could be possible consequences?
S C Goswami
Delhi
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 08 July 2017
Try to understand for any AY if any thing you have to put in front of income tax deptt , you could do so by filing income tax return or revise return .
And if fail to do so there is no alternative for that .
SORRY but you can't do anything for AY 11 -12 now .
scg
(ed)
(44 Points)
Replied 08 July 2017
Thanks.I have understood.what I now want to understand is to what extent I can be put to inconvenience on a/c of deemed non filing of IT for AY2011-12,given the above major facts that I wanted to put before ITO?
S C Goswami
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 08 July 2017
First of all forget about the refund now .
If however somehow income tax deptt asked you to file the return u/s 142(1) for the AY 11-12 then only you can furnish it and put up the facts of capital gain , other incomes and consequent refund .
Which is very less likely and happens only if there is possibility of demand .
In addition , any penalty or interest will only arise if there comes any demand .
So until then , forget about everything .
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