Section 148 return with tax due

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PARTNER
30 Points Posted on 16 November 2018

Assessee had received a Notice U/s 148 for escaping Capital gain. Notice was valid. Assessee accepted and filed the ITR with the Capital gain tax as entirely due. The ITR acknowledgent with calculation was submitted. What is the time frame for the assessee to pay the tax declared as due in return? Is the return filed is Valid?

 

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On 16 November 2018 at 17:17 Report
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116 Points Posted on 16 November 2018
Return is not valid, tax should be before filing of return
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On 16 November 2018 at 20:09
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24 Points Posted on 16 November 2018
if do not paid due tax, assessment will be completes and demand determine along with interest u/s 234B & C if applicable.
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On 16 November 2018 at 21:30
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PARTNER
30 Points Posted on 17 November 2018

Agree with you Sir. But this is applicable for Sec 148 cases too?

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On 17 November 2018 at 12:34
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116 Points Posted on 17 November 2018
Return filed without payment of tax is considered as defective return. If such defect is not rectified within the specified time then such return shall be treated as invalid. The same applies for return filed u/s 148.
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On 17 November 2018 at 12:42
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34 Points Posted on 26 November 2018
it's not defective return as amended by FA Act do u can that amount with in time limits specified
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On 26 November 2018 at 09:39
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PARTNER
30 Points Posted on 26 November 2018

Sir, what is the time limit? will it be specified by A.O.?

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On 26 November 2018 at 09:54
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34 Points Posted on 26 November 2018
that is based on the notice given by AO
or u can request for time from AO in website
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On 26 November 2018 at 09:58
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PARTNER
30 Points Posted on 26 November 2018

Thanks a lot sir. Is there any maximum time frame that can be availed or is just 15 days from date of filling return?

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On 26 November 2018 at 10:05
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34 Points Posted on 26 November 2018
u can request for condanation in website
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On 26 November 2018 at 10:06

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