Anes Mohamed (Assistant Manager (Finance)) (37 Points)
09 September 2008Can income tax return be filed more than one year? For example, a person Y, who failed to file his income tax return for PY 04-05, 05-06 and 06-07, feels like he was cheating government all along and now want to disclose his income for all these years and hence wants to file his income tax return in AY 2008-09 along with income of PY 07-08..
Can he do so? If he does, wat are the consequences he has to face for not filing previous years' returns?
saurabh
(CA)
(552 Points)
Replied 09 September 2008
yes, Belated return can be filed u/s 139(4).. but only for P/y's 06-07 and 07-08 and current year return for 08-09.
as sec 139(4) says " where a ROI is not filed but required to be filed u/s 139(1), an assessee can file a belated return u/s 139(4) within 2 years from the end of the relevant A/Y"
For the late ROI's penalty of Rs. 5000 will be levied as the ROI are filed after the end of the Relvant A/Y
CA Rajesh S
(Chartered Accountant)
(1581 Points)
Replied 10 September 2008
Belated return can be filed FY 06-07 & 07-08
For the FY 08-09 ROI can be filed after march'09
Sandeep Bharti
(Service)
(0 Points)
Replied 10 December 2008
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regards
Sandeep
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