Query about belated filing

Hello Ram,

The policy of IT department regarding belated return is very lenient in the beginning. For returns belated but filed within the same assessment year, a penalty of 5000 is leviable but is levied rarely.

E.g. A return of 2014-15 filed any time after due date but before 31st March 2016 is less likely to attract penalty.

Exactment of such penalty is at the discetion of AO who decides as per the circumstances. The 'circumstances' include Tax liability and whether omission was wilful.

And yes, it is partially true that returns can be filed until expiry of two years after FY (technically mentioned as 1 year from the end of assessment year), because any return filed after two years is considered time barred i.e. acceptance of such a return is upto IT department. It may reject such a return.

Once again, in case of time barred returns, levy of penalty will be decided by the department, but the odds will not be with you this time.

All the returns you mentioned (2010-11,2011-12 & 2012-13) are to be treated as time barred.

Hope this was of help.

Ansari Salman
08087945323

See the response from Nikhik Kaushik:

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