IT Return for AY 2008-09

SHE FILE HER RETURN OF INCOME TILL 31ST MARCH 2010 & THEIR IS PENALTY IMPOSED IF HER TAX LAIABILITY IS NIL.

According to Proviso to Sec 139. it is mandatory to file return if the gross income before deductions exceed the taxable limit not chargeable to tax. therefore it is not necessary to file any return if the gross income before deductions doesn't exceed the taxable limit not not chargeable to tax.

Penalty would be leviable only if it is necessary to file any return otherwise not.

If d Assesee has not filed return in time it becomes a belated

return u/s 139(4) however it can b filed within 1 year from d end of the assessment year or till d end of d assessment whichever is earlier failure of which will make d assesse in default

thus she can file d return till 31/03/2010 if taxable income is below exemption limit no intrest

No Penality Will B Charged,

Wheather it was a first return.

as per sec 271F if an assessee is required to file return u/s 139  & fail to file such return before d expiry of relevant A/y  d AO may impose a penalty of rs 5000 on assessee for not filing of return. it is discretionery power of AO but if assessee is not required to file return u/s 139 then AO Can't impose penalty in any case & in case of individual assessee return is required to file only if total income before deduction u/c VI A & exemption u/s 10A, 10B & 10BA exceeds maximum amt not chargeable to tax

I agree no penalty leviable if nil return and filled on or before 31.03.2010

but if he or she wants to file return of A. Y. 2008-09 now means after 31.03.2010 then can he or she file the same or not

if yes whether penalty leviable or not...

Sir,

Is it possible to file ITR for AY 2008-09 after 31 Mar 2011 ? If YES, Pls specify the procedure.

Thanks with warm regards

                                        P C Paila