09 July 2011
U may seek a direction from the Commissioner of Income tax instucting the ITO to receive your return.Then u can file the return and take credit of the TDS. However, the ITO may initiate penalty proceedings under section 271F of the Income tax Act,1961.
10 July 2011
Return for FY 09-10(AY 10-11) can be filed now. ITO has the power to levy penalty of Rs 5000 for late filing of return but the power is seldom used in case of refund.
10 July 2011
yes,you can file return for f.y 2oo9-10,there will no penalty in case of refund,in case u file return taxable return then penalty will be rs.5ooo/- .further once in while ask to ITO,they resolved this issue.
10 July 2011
Yes Financial Year 09-10 Means As. Y. 10-11, so its return can be filled till 31st of March 2012, and yes penalty can be levied by the AO, but the power to levy the penalty are discretionary to AO. And in practical the penalty in the such cases as yours is levied sledom
11 July 2011
If the return for the AY 2009-10 is below taxable then you can file the return and No penalty.
If the return is below taxable and the refund is below 10,000/- the same can be filed for refund purpose and the AO will grant the refund. If refund is above 10000 the AO has to secure permission from CCIT.
The Penalty can be levied as stated by other experts if the return is taxable and you are paying the tax now. Do not forget to pay interest u/s 234A, B & C if applicable.
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