Penalty for Late filing of IT Return

Dear Sir,

Sorry for my mistake the correct question is  

Can an Individual file ITR -4 for F.Y. 08-09 up to 31st March 2011 ?

If yes, some CA says for penalty of Rs. 5000.00 is this true

Can an individual file ITR-4 without penalty for FY 08-09

If not then why DIT allowed filing ITR for the same

Thanking you

A belated return u/s 139(4) can be filed upto the end of one year from relevant assessment year...

If you have filed the return for previous year 2008-09, you can file return u/s 139(4) upto 31st March 2011...

However penalty u/s 271(f) will be leviable i.e Rs 5000

1. I was filed my return of f.y 2007-08 but my refund not yet credited to my account. I have checked the status of refund they said refund was credited to your account on 04/08/2009 but i have checked my whole bank statement there was no any refund credited to my account.

2. After f.y 2007-08 i have not filed my returns for the f.y 2008-09, 2009-10, 2010-11, please tell me if i want to fill my all the return on previous yrs on this year is there any panelty, One more thing in that previous years no any taxable income of me, actually i want to file my return due to my refund in previous years.