refund claim for belated return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2011 i want to know wether i can file return relating to Financial years 2007-2008, 2008-2009. As i know the due dates are march 2010 and march 2011 but due to some reasons i was unable to file the return to claim refund. is there any possibity for me to file my return and claim for refund. i have found the following consequences given below.

please help me in this regard.

CONSEQUENCES OF SUBMISSION OF RETURN AFTER DUE DATE
If a return is submitted after the due date, the following consequences will be applicable:
1. The assessee will be liable for penal interest under section 234A.
2. A penalty of 5,000 may be imposed under section 271 F if belated return is submitted after the end of the assessment year.
3. If the return of loss is submitted after the due date, a few losses cannot be carried forward.
4. If the return is submitted belated, deductions allowable under certain sections will not be available.

As i enquired in income tax office, there one officer said if a return is filed belated then they will stamp it as belated and it will not be processed for refund. If it is so then what is the use of filinf belated return.

U S Sharma

U S Sharma (Expert)
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18 May 2011 1. share the TDS details, on which item your TDS is deducted and how much.

2. Your reason to belief, why you feel that your such TDS should be refunded?

3. your reason for non submission of return for so many years.

without complete details its hard to comment on the issue.

better u get in touch with local CA who will guide u properly

Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2011 1.tds is deducted on comission income for LIC & postal agent.

2.since i have no taxable income

3.since iam an postal agent i got my TDS certificate lately i.e if the financial year is 2006-2007 then i got my certificate in 2008 december and i forget to file because i donot know that the due date is march 2009.

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CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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19 May 2011 If your total taxable income is below minimum exemption limit, penalty of Rs. 5000/- and interest u/s 234A is not leviable...

Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2011 sir,

but i want to know if i file the reutrns foe the above said financial years now for refund claim will the income tax department process it or not. if they must do and they are not doing so then then i cant fight with them with your support.

please clarify