19 October 2013
Not possible to file now as it is time barred . . Possible if you have refund in that assessment year,,even though it is possible it will be some complex process.. . . refer Section 119(2)
19 October 2013
As such the last date for filing belated tax return for AY 2011-12 has expired. However, you can still file the return if the AO agrees to issue order under 142(1).
Tax rules permit assesses to file their returns pertaining to two preceding financial years, even after the expiry of the respective annual deadlines. "Tax-payers who haven't filed their tax return for the financial year 2012-13 can do so until March 31, 2014.
In fact, returns can be filed even till March 31, 2015. However, you will have to pay a penalty of up to Rs 5,000 if it is filed after March 31, 2014.
The I-T department charges a penal interest for every month of delay...
In your case if the assessing officer allows on the provided circumstances then you can do so...
19 October 2013
Tax rules permit assesses to file their returns pertaining to two preceding financial years, even after the expiry of the respective annual deadlines. "Tax-payers who haven't filed their tax return for the financial year 2012-13 can do so until March 31, 2014.
In fact, returns can be filed even till March 31, 2015. However, you will have to pay a penalty of up to Rs 5,000 if it is filed after March 31, 2014.
The I-T department charges a penal interest for every month of delay...
In your case if the assessing officer allows on the provided circumstances then you can do so...
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