19 August 2010
AN ASSESSEE WHO HAS NOT FILED HIS RETURN FOR THE FINANCIAL YEAR 2007-2008 ( ASSMT; YEAR 2008-2009) CAN HE FILE NOW? AS PER RETURN THERE WILL REFUND SAY Rs.3,000/- WHETHER PENALTY OF Rs.5,000/- is levied FOR LATE FILING? WILL THE DEPARTMENT ACCEPT THE SAID RETURN?
19 August 2010
agreed, definetly AO may levy Penalty which means you have are paying excess Rs. 2000/- (5000-3000) against Refund Amount. and you are almost 5 month last for last chance. so better to file in due time.
CAclubindia
