FILING OF I.T. RETURN FIRST TIME

This query is : Resolved

hiral (Querist)
Follow

25 January 2010 IF SOME ONE WANTS TO FILE I.T. RETURN FIRST TIME SAY FOR A.Y. 2009-10 THEN WHAT IS THE PROCEDURE?
IS IT COMPULSORY TO ALSO FILE RETURN FOR PAST 3 A.Y.YEARS?

BALASUBRAMANYA B N

BALASUBRAMANYA B N

(Expert)
Follow

25 January 2010 NO NEED TO FILE 3 YEARS, NOW ONLY 2 YEARS RETURNS CAN FILE.YOU FILE FY 2008-09 NOW...

CA Prashant Gupta

CA Prashant Gupta (Expert)
Follow

25 January 2010 there is no such condition to file 3 A.Y. return.
if you want to file first return for A.Y. 2009-10 then you can file it normally.
if there is tax then you should file it before 31-3-2010 otherwise penalty u/s 271F will be applicable.
if there is no tax you can file it one year after the A.Y. i.e. 31-03-11.
You can file it online also.

Upgrade to CAclubindia Pro. Subscribe Now!

hiral

hiral (Querist)
Follow

26 January 2010 THANKS FOR SUCH USEFUL INFORMATION

THANK U SIR

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
Follow

26 January 2010 Mr. Prashant is absolutely correct.

sivadas chettoor

sivadas chettoor (Expert)
Follow

19 February 2010 You can file the returns for Asst year 2008-09 also now as a belated return under Sec 139(4) of the Act.In case you have taxable income for 2007-08 still, if you are so particular you can file it. The dept can validate that return by issue of notice u/s 148.You may face a little difficulty if it is an e- return.

siva208@yahoo.com