Income tax return

This query is : Open

Guest

Guest (Querist)

22 March 2016 There is a big confussion, many people are saying that u can not file return for the A.Y. 2015-16 after 31st march 2016.
It is right or not?
Bcz they said that there is any circular or notice regarding this but I couldn't find anything.
Please clearify as soon as possible.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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22 March 2016 you can still file the return for ay-2015-16 as belated return till 31st March 2017 u/s.139(4)

Message likes : 1 times

Guest

Guest (Querist)

22 March 2016 Dear Ramesh Krishnan sir,
Thanks for reply.
And what about people saying about circular or notification for which many people are saying that you can not file return after 31st march 2016?
It is true or not?

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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23 March 2016 Under Income tax every assessee has the return filling due date as per sec.139(1), need to file the return on or before the due date.if misses the due date, you can file the return as belated u/s.139(4) either before end of the assessment year or 1 year from the end of assessment year.but already paid the all the taxes and no tax liability then interest u/s.234A only will apply. if there is tax liability also pending then interest and penalties will apply for late payment and late filling of return.

So there is possibility that you can file the return for ay-2015-16 after 31ST March 2016 also with applicable interest and penalties

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Guest

Guest (Querist)

23 March 2016 Sorry sir but I am just asking that is there any kind of circular or notice passed saying these things which are getting viral by many people.