income tax return

 what if a assessee company  which is in loss filed belated return & FBT REPORT is not submitted with it,though paid ? Is there any remedy which an assessee can do after that though  he cant file revised return....

Replies (2)
hi poonam, Firstly, belated return cannot be revised. Thus you shall not be eligible for the loss benefit becoz of belated return. Secondly, FBT report need to be enclosed with the tax audit report. Kindly confirn whether tax audit is compulsory. If tax audit is not compulsory, you need not have to worry abount FBT report. Further, IT return in form 1 for companies need to be compulsorily be filed online which is a paperless return. No supportings required but all documents to be maintained at the time of assessment. Rgds/ Vineet
Note that Becoz the return in question is a belated one Revised Return is not possible also carry forward of loss is not allowed. But with reference to new RETURN FILLING PROCEDURE (As.Y 2007-08) ITR 6 Which is a paperless reurn the said report has to be filled in the return itself for it to be uploaded and MANUAL FILLING of the same is not possible. Even for As.2006-07 online filling for companies was compulsary thus the above would apply.

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