JULY 31ST IS THE LAST DATE FOR FILING THE INCOME TAX
RETURNS.
IF YOU CANT FILE WITHIN THE DUE DATE, NOT TO WORRY OF THAT,
STILL YOU WILL HAVE TIME STILL MARCH 2010.
NOTE:
1) WHO WANT TO FILE THE RETURNS WITHIN THE DUE DATES?
A) WHO HAVE TAX LIABILITY AND LOSS IN BUSINESS SHOULD FILE WITHIN THE DUE DATE.
2) WHY CANT FILE AFTER DUE DATE IF HAVE TAX LIABILITIES?
A) CAN FILE AFTER DUE DATE ALSO, BUT IF HAVE TAX LIABILITY THEN HAVE TO PAY INTEREST UNDER SECTION 234A FOR FILING AFTER DUEDATE..IF YOU HAVE TAX LIABILITY MORE THEN 5K THEN HAVE TO PAY INTEREST UNDER SECTION 234 A,B & C ALL THREE WILL APPLICABLE.
3) WHY WE HAVE TO FILE WITHIN DUE DATE IF WE HAVE LOSS?
A) IF WE HAVE LOSS IN FY 2008-09 AND IF DONT FILE WITHIN DUEDATE THEN WE CANT CARRY FORWARD THAT LOSS TO NEXT YEAR THAT FY 2009-10 TO SETOFF THAT LOSS TO CURRENT PROFIT.
4) WHO DONT HAVE TAX LIABILITY AND LOSS CAN FILE THE RETURN AFTER DUEDATE?
A) CAN FILE AFTER DUEDATE IF ONE DONT HAVE LOSS OR TAX LIABILITY STILL MARCH 2010..
5) WHO HAVE FORM 16 AND GOT DEUDCTED TDS AND NO TAX LIABILITY CAN FILE THE RETURN AFTER DUEDATE?
A) CAN FILE AFTER DUEDATE ALSO, IF HE DONT HAVE TAX LIABILITIES..
NOTE:
WE HAVE STILL MARCH 2010 TIME TO FILE THE RETURNS SO CHILL AND DONT GET TENSE OF DUE DATE OVER.
ALL THE BEST
BEST REGARDS
'
CAclubindia
