Late filing of income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 November 2013 Dear sir,
which below interest is imposed on late filing?
Interest U/S 234A
Interest U/S 234B
Interest U/S 234C

for A.Y 2010-2010, 2011-2012, 2012-2013

CA Pallav Singhania

CA Pallav Singhania (Expert)
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01 November 2013 You can not file return for the year A.Y 10-11 and 11-12 as the time is barred..

However, you can approach to AO for the same.

Delayed return be filed after a lapse subject to the discretionary power of the Commissioner of Income Tax under section 119 (2) of the Income Tax Act of 1961. The Commissioner of Income Tax could grant permission condoning the delay of filing the return and allow the refunds arising out of such return, strictly based on the merit of each case.

It may also be noted that if an assessee would like to file his return, without involving any refund – such returns could be filed for the purpose of record and NO RETURN COULD BE FILED INVOLVING REFFUND, without obtaining the permission from the Commissioner of Income Tax for condonation of delay.

CA Pallav Singhania

CA Pallav Singhania (Expert)
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01 November 2013 Application to be made to the Commissioner

The delayed return could be prepared – either it could be filed at the office of the assessing officer – acknowledgement obtained and the copy of the same is attached with the application in Form-30 under rule 41 along with a covering letter which could be forwarded to the Commissioner or, the application form – 30 along with the return and a covering letter is submitted.

It is suggested that the return be submitted to the assessing officer, photocopy attached to the Form-30 and the covering letter and forwarded to the Commissioner for required permission / condoning the delay in filing the return.

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CA UMESH DULAL

CA UMESH DULAL (Expert)
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01 November 2013 commissioner's power u/s119(2) is discretionary. He may or may not condone the delay of filling return for AY 10-11 & 11-12

but you can file return for AY 12-13 upto 31.3.2014 but penalty of rs 5000 may be imposed on you

for ay 13-14 you can file return on or before 31.03.14 without any penalty

but you have to pay interest on all of cases as due date has been expired on all cases

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