Income tax return

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Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2015 Dear expert
can i fill income tax return of FY 2013-14. in this current FY 2015-16

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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03 April 2015 yes for ay 14-15 u can file as belated return u/s 139(4)

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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03 April 2015 Yes you can file return u/s 139(4) upto 31.03.2016 but subject to 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.

AO can levy Maximum Penalty of Rs 5000/- after giving assessee an reasonable opportunity of being heard.

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