Penalty for non filing of return before 30 th sec.

This query is : Resolved 
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(Querist)
16 September 2014 respected sir,
a dealer who's turnover crossed one crore ,shall file his return of income
under sec 139 (1) or sec 139(4)
and files audited report under sec 44ab.
time is extended up to 30 th nov to file audited report under sec 44ab only.but not for filing of return under sec 139.
but if return of income not filed by sec 30th ,nothing will happen because you can file retun of income under sec 139 (4) up to expiry of one year from the end of ay that is ay 2014-15 with out penalty. so no urgency regarding 30 th sep.but interest is payable on tax due.i request the experts discuss the matter in detailed manner. thanking you
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
16 September 2014 you are correct in your analysis....so please go ahead...
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 September 2014 it is totally agreed on what u have written
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girigattupalli

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girigattupalli (Querist)
16 September 2014 thanks to nikhil and sampath for your appreciation
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 September 2014 you are welcome giri............

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