Previous year filing query

Efiling 618 views 3 replies

Can i Efile a return right now for Ay 2011-12 and 2012-13?  Both have refunds due and this is to claim refund, no tax due. Whats the best suggestion? I think till 2 year we can file? Any advice and precaution.

Replies (3)

u can file the itr only for ay 2012-13. coz itr of ay 2011-12 is now time barred.

u shud file itr for ay 2012-13 and claim ur refund.

As per section 139 (4) of income tax act a belated return can be furnish at any time before the end of one year from the date of end of relevant assessment year.

Therefore you can file the return of AY 12-13 only before 31st march 2014. 

you can also fill the return of AY 11-12 (the due date of belated return of the same was 31st march 2013) , but after considering below facts:-

1) A penalty of Rs.5,000/- may be imposed u/s 271F.

2) penal interest u/s 234A, also applicable in addition to above.

tHANX FOR THE REPLY


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