08 April 2011
Dear Harpreet If you are filed return for the FY 06-07 then you must file all return with penalty remember TDS amount for 07-08 & 08-09 is forfeited by departement
If you are not file return for FY 06-07 then dont file return for FY 07-08 , 08-09 , 09-10
Return filing time for FY for 10-11 is 31 july 2011 So prepare for this
Can i file ITR for FY 2009-10 right now as the assessee can file belated ITR within expiration of 2 years without paying penalty u/s 237 of Rs. 5000/-. CBDT will deduct the same (Rs.5000/-) from assessee TDS amount if there is refund more than Rs. 5000/- or raising demand for the same.
08 April 2011
You may kindly note that income tax return should be filed with in the due dates as per IT act. you can file the return of income for the F.Y.2009-10 & F.Y.2010-11 as on date.
For the previous years i,e F.Y.2007-08 & 08-09, as it is already time bared, Assessing Officer will not accept the return.
He may issue the notice for Income escaping assesment U/s 147.
CAclubindia
