Non filling of firm return

This query is : Resolved 

01 November 2011 one of the partnership firm since from ay 08-09 it return not filed and profit approx 9 lakh in same year. as date of filing lapsed what consequences will faced by department or what remedy available now?
please help ! thanks

01 November 2011 Penalty U/s 271f Rs. 5000 levied for non filling of return for each assessment year

department can do income escaped assessment u/s 147...if department has reason to believe that assesse has escaped income.

firm is compulsorily required to file return u/s 139(1).

02 November 2011 thanks vishal rana sir, firm ready to pay tax but now how to file belated return as e-return not uploaded since date of return filling lapsed? can i file with taking all previous income in current year?


02 November 2011 No you can file mannual return in Income Tax Department Counter or you can contact your Income Tax Officer with request to accept your beleted returns



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