iNCOME TAX REFUND FOR AY. 10-11
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2011
SIR,
I HAVE EARNED RS. 500000 DURING YEAR 09-10 FROM CONSULTATION FEES AND MADE EXPESES OF RS. 150000 APPX. ON SALARY TO STAFF AND OFFICE EXP. PAYER DEDUCTED RS. 50000 AS TDS.
I HAVE NOT FILED INCOME TAX RETURN TILL date.
NOW WANT TO FILE RETURN AND TAKE REFUND OF EXCESS TDS.
WHETHER I CAN FILE LATE RETURN AND TAKE REFUND.
WHETHER HAVE TO PAY ANY PENALTY OR INCOME TAX DEPARTMENT CAN IMPOSE ANY PENALTY ?
I HAVE EARNED RS. 500000 DURING YEAR 09-10 FROM CONSULTATION FEES AND MADE EXPESES OF RS. 150000 APPX. ON SALARY TO STAFF AND OFFICE EXP. PAYER DEDUCTED RS. 50000 AS TDS.
I HAVE NOT FILED INCOME TAX RETURN TILL date.
NOW WANT TO FILE RETURN AND TAKE REFUND OF EXCESS TDS.
WHETHER I CAN FILE LATE RETURN AND TAKE REFUND.
WHETHER HAVE TO PAY ANY PENALTY OR INCOME TAX DEPARTMENT CAN IMPOSE ANY PENALTY ?
09 July 2011
YES, YOU CAN FILE THE RETURN UNDER SEC 139 (4) WITH THE PENALTY OF RS. 5000 UNDER SEC 271F
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2011
SIR,
WHETHER I HAVE TO PAY PENALTY MYSELF WITH RETURN OR WAIT FOR DEMAND BY AO.
WHETHER I HAVE TO PAY PENALTY MYSELF WITH RETURN OR WAIT FOR DEMAND BY AO.
09 July 2011
YES, U CAN ALSO WAIT FOR THE DEMAND
ANOTHER THING IS IF YOUR RETURN IS PROCESS AND REFUND IS COME THEN A0 DEDUCT THE PENALTY FROM REFUND AND REFUND THE NET AMOUNT
ANOTHER THING IS IF YOUR RETURN IS PROCESS AND REFUND IS COME THEN A0 DEDUCT THE PENALTY FROM REFUND AND REFUND THE NET AMOUNT
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