Return filing in case of refund

is it compulsary of file income tax return before due date in case if refund.
Replies (5)

Nope....you can do it till limit

Actually you can file it within due date of 139(4) [i.e 1 year from the end of relevant assessment year, but doing so might attract penalty u/s 271F for Rs.5000, (its upto AO to levy or not to levy this penalty)

If you miss the last date of 31st Aug . You can file  10 -15 days  late also

Upto 31st march 2016 - 99% you will not be charged Penalty.

Upto 31st march 2017 - Ao of ur ward will decide about penalty

 

In case of refund how can AO charge penalty, since there is no tax liability. There fore return can be claim in belated filing of return or written application in case delay is more than 2 years from the relevant FY. But refund claim can be made only for 6 years.
Originally posted by : SAGAR
In case of refund how can AO charge penalty, since there is no tax liability. There fore return can be claim in belated filing of return or written application in case delay is more than 2 years from the relevant FY. But refund claim can be made only for 6 years.

 

Penalty u/s 271F has nothing to do with refund, it may or may not be levied.

That 6 year point will apply if assessee has genuine reason to not to file the return and this is decided by CIT (or the officers above him (as per the criteria)) on case to case basis. Practically its is difficult to claim refund in such cases.[More than 2 year old]

 

271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.

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