20 March 2010
Dear Sir, I want to know whether filing of income tax return for the A. Y. 2007-08 in the month of March 2010, attracts penalty under any section of the Income Tax Act in the case where the total assessable income after deduction Under Chapter VI A of the Act, is below the exemption limit. & have a T.D.S. to the tune of Rs.9000/- which the assessee wants to claim as a refund.
20 March 2010
Yes agreed. The ITR of A.Y 2007-08 is time barred and could have been filed only upto 31-03-2009 that too with the risk of receiving a notice of penalty u/s 271F.
However if you receive a notice u/s 142(1) for A.Y 2007-08, the return for said A.Y can be filed after 31-03-2009.
21 March 2010
agree with experts, for tds refund you have to write a letter to AO regarding TDS refund but you have to explain carefully about non filling of IT Return.
23 March 2010
In the above case, if the refund is not requried but can the individual file his return for a total income which is below the exemption limit i.e. after deduction of VI A of the Act. without attracting any penalty clause under the Act.
23 March 2010
In the above case, if the refund is not requried but can the individual file his return for a total income which is below the exemption limit i.e. after deduction of VI A of the Act. without attracting any penalty clause under the Act.
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