failure to file return

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Praveen Kumar

Article

22 Points Posted on 26 June 2009

Can someone claim refund if he has not filed ITR for the year in which refund was due,

e.g. for the year 2007-08 tds was deducted and refund was due but failed to file the return for 2007-08. Now, can he get that refund for 2007-08 in 2008-09.

Also please tell the Penalties for non-filing of ITR.

Thanks

Replies (2)

Yogesh Shah

Managing Corporate Finance

809 Points Posted on 26 June 2009

Hi dude,

If you don't file the return within the due date, you cannot claim refund of TDS.

In respect of non-filing of return, you will be liable to pay the penalty @ 1% on amount of total tax (that you WOULD HAVE to pay).

Period of calculating penalty will be - from the due date of return TO date of completion of assessment.

You cann't claim refund from IT Dept.without filing your ITR. for the FY 07-08, you can file return upto March 2010 without any penalty but after that provision of penalty of Rs.5000 is there.(in the case of non audit case or we can say individual IT return.). Before releasing refund, department may issue a show cause notice asking why they should issue refund in case of belated filing of IT Return and you should reply so that ITO get satisfied with you reply.