Updated Online video classes available for CA,CS,CMA for May20 and Nov20 batch. Call: 1800-3000-0505

Regarding house property


Janaki (Account Assistant)     03 October 2013

Janaki
Account Assistant 
 1 likes  93 points

| My Other Post

Hi..

One of my clients has 2 houses and he had not shown one house in the AY 2012-13. he had not filed the reurns also for that AY (2012-13)

He wants to show the house property now and then file the returns. Is it possible to show it now and file the returns?

plz suggest me...

Prashant Kini (Article Assistant)     03 October 2013

Prashant Kini
Article Assistant 
 13 likes  149 points

View Profile | My Other Post

Return of Income for AY 2012-13 can be filed up to 31.03.2014. But AO may levy a penalty of Rs.5000 for the delay in filing of the return

avater

@VaibhavJ (Believe!! Live your dreams!)     03 October 2013

@VaibhavJ
Believe!! Live your dreams! 
 4738 likes  33431 points

View Profile | My Other Post

Yes he can file return..

avater

Pallav Singhania (❤ Work Hard Party Harder ❤)     03 October 2013

Pallav Singhania
❤ Work Hard Party Harder ❤ 
 4508 likes  30975 points

View Profile | My Other Post

He can file his return of Income up to 31.3.2014..

However, He can't claim any loss arising there in..

AO may impose penalty of Rs. 5000...

avater

Ramanuj (Accountant.)     04 October 2013

Ramanuj
Accountant. 
 50 likes  829 points

View Profile | My Other Post

You can file return up to 31.3.2014.   for A.Y. 2012-13 but not shown in loss & have any tax liability , paid with interest.

Thanks

 

avater

Dintakurthi Tirumala (CA FINAL)     04 October 2013

Dintakurthi Tirumala
CA FINAL 
 960 likes  15967 points

View Profile | My Other Post

Yes, you can file return of income for A.Y 2012-13 upto 31-3-2014.  As well if he has any self assessment tax payment liability then he required to pay interest u/s 234A,B and C if applicable.

 

                 But AO has a right to levy penalty of Rs.5,000/- for delay of return of income by more than one year from the end of the financial year.   But at the time of filing of return of income you need not to pay any penalty if it is insisted by AO then you required to pay, because of it depending on the willing of the AO and you couldn't show penalty paid amount and details in return of income.

 

OM SAI SRI SAI JAI JAI SAI


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Popular Discussion


view more »