Filing of returns 2012-13

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Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2013 For an individual having an income Rs.176000 for AY 2012-13, wants to file return of income through efiling. What would be the penal and time limit for the same. Is there any barred to file return through efiling? Can he/she file return of income both the year i.e.2012-13 & 2013-14 together at one time through efiling?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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28 July 2013 You can file now the return of AY-2012-13 as belated return. it can be filed with in 1 year from the assessment year. you can file online now along with your return for ay-13-14

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 What would be the penalty in case of belated returns? Can file return of AY 2012-13 upto 31st March 2014? Thanks a lot.

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 What would be the penalty in case of belated returns? Can file return of AY 2012-13 upto 31st March 2014? Thanks a lot.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 July 2013 Penalty will be Rs.5000 for belated return filing u/s.271F

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 July 2013 For AY-2013-14, Individual return due date is 31st July 2013. you can file till March 31,2013 also as belated return

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Please note that income is still below taxable before 80c for AY 2012-13 and 2013- 14. Not clear about filing AY 2012-13? Will advantegous or loss if we file return as below taxable for said AY?

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Pl kindly help

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 July 2013 Incase of income is not taxable limit., you can file as belated without attract. penalty. since the 271F apply for those need to file mandatory. your case income is below taxable limit so not compulsory to file return u/s.139(1).

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 Thank you. If he/she wish to file the return which is not mandatory, can he/she? Upto 31st March 2014 can he/she file return of below taxable income through efiling for the AY 2012-13?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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29 July 2013 Yes. he/she can file the return before 31st March 2014 since the income is not taxable.

Yes. can be filed through online efiling

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