submission of late incomr tax returns
This query is : Open
25 December 2009
can we submit return for f.y.2007-08
please guide with proper section
please guide with proper section
25 December 2009
yes you can file your IT return of F.Y. 07-08 but before 31st March'2010
25 December 2009
you can't e-file your IT return you just have to file manually.to your concern IT ward.
25 December 2009
There is no reason why you cannot e-file. Section 139(4) enables the assessee to file belated return before expiry of one year from the end od the assessment year.
Following three points may be kept in mind:
1.If full tax has not bee paid by the assessee before due date for filing return of income for the assessment year 2008-09 (FY 2007-08)interest under section 234A is payable before filing the late return. Interest is payable @ 1% per month or part of a month for the period immediately after the due date for filing the return to the date of filing the return.
2.If the return discloses business loss or loss under the head "capital gains" or speculation loss or loss from winning from owning and maintaining race horces, such losses shall not be allowed to be carried forward.(Section 139(3) read with section 80)
3.There is no scope for revising the belated return.
2.
Following three points may be kept in mind:
1.If full tax has not bee paid by the assessee before due date for filing return of income for the assessment year 2008-09 (FY 2007-08)interest under section 234A is payable before filing the late return. Interest is payable @ 1% per month or part of a month for the period immediately after the due date for filing the return to the date of filing the return.
2.If the return discloses business loss or loss under the head "capital gains" or speculation loss or loss from winning from owning and maintaining race horces, such losses shall not be allowed to be carried forward.(Section 139(3) read with section 80)
3.There is no scope for revising the belated return.
2.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
Trending Online Classes
CAclubindia
