18 July 2012
My client’s TDS was deducted u/s 194J of Income Tax Act for A.Y. 2011-12. Her total income was below the basic exemption limits for A.Y. 2011-12. She failed to file return for A.Y. 2011-12. Can she file return online for A.Y. 2011-12 and claim refund after 31st March, 2012? Will penalty u/s 271F (Rs.5000/-) be imposed if she file return for A.Y. 2011-12 after 31st March, 2012 and her total income for that year was below the basic exemption limit? In which head she should disclose her income (on which TDS was deducted u/s 194J) for A.Y. 2011-12? Please answer for my queries.
18 July 2012
Yes, the assessee can file belated return upto 31st March, 2013. The penalty u/s 271F will be imposed, because you are claiming refund and were supposed to file the return. Since the TDS is deducted u/s 194J the head of income seems to be Profit from the business & profession.
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