Itr return refund on belated return

ITR 1736 views 7 replies

Jyothis

Article

1127 Points Joined December 2014

ITR of an individual was not filed for AY 14-15 & AY 15-16.

Can Both return be filed in AY 2016-17 & claim tds deducted on insurance commission amounting to Rs.3580/- & Rs.2950/- & Assessee has no other income.

Replies (7)

KAISER MIR

student

90 Points Joined March 2015

Yes u can. For A.y 14_15 u can file before 31st march 16

Sathish M

Management Accountant

40581 Points Joined June 2010

For AY 2014-15 you can file the return till 31st March 2016 & for AY 2015-16 time till 31st March 2017. But, why do you have to wait till then, get your return filed at the earliest.

as per recent cbdt circular now department can issue refund of 6 years with app of condonation of delay for filing return nd claiming refund . if assessee prove there was genuine hardship.

so on the basis of circular of even if date expired for return you can claim refund by giving declaration to department

source:cirular 9/2015 dt 9.6.15

Ganeshbabu K

Audit and Tax Advisory

48564 Points Joined May 2012

Better submit belated return for A.Y.14-15 before 30 march 2016 failing to which you need to face difficulty as condonation of delay petition has to be filed with CIT and only manual return possible(which will end you up in high professional costs and time consuming)

Ishwar Ranjanagai

Audit. Asst

35 Points Joined May 2013

One of my client was not filed ITR return AY 2014-15 and AY 2015-16 can I file before 31-03-2016 and any finality and interest Will come there on income.

Rohanagrawal

Advocate

35 Points Joined July 2015

The A.Y 14-15 return can only be filed till 31st march16 and if taxable return then penalty of rs 5000 and interest on tax will be charge and For A.Y. 15-16 if taxable income only interest no penalty till 31st march16