Rejection of itr v

You cannot file return for AY 11-12 now.

Regards

Sarath

AY 11-12 , you got to be kidding me .

signed copy ITR-V must be submitted within 120 days of filing of ITR . 

Since the dead line passed your copy has  to be rejected & It will be considered that you have not yet filed your return.

And now you can't even file the revised return to remedy the situation . u can't do for the AY 11-12.

Thanks for a prompt reply.In the return under reference,i had given details of sale of flat but no capital gains tax was payable.There was to be refund of Rs 6000+.What could be possible consequences?

S C Goswami 

Delhi

Try to understand for any AY if any thing you have to put in front of income tax deptt , you could do so by filing income tax return or revise return .

And if fail to do so there is no alternative for that . 

SORRY but you can't do anything for AY 11 -12 now .

Thanks.I have understood.what I now want to understand is to what extent I can be put to inconvenience on a/c of deemed non filing of IT for AY2011-12,given the above major facts that I wanted to put before ITO?

S C Goswami

First of all forget about the refund now . 

If however somehow income tax deptt asked you to file the return u/s 142(1) for the AY 11-12  then only you can furnish it and put up the facts of capital gain , other incomes and consequent refund .

Which is very less likely and happens only if there is possibility of demand .

In addition , any penalty or interest will only arise if there comes any  demand .

So until then , forget about everything . 

Thanks a lot.

S C Goswami