12 March 2015
Belated return u/s 139(4) can be filed for AY 2013-14 & 2014-15 upto 31.03.2015.
Return of AY 2013-14 will be subject to levy of Penalty u/s 271F.
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.