Refund in income tax

This query is : Resolved

suman (Querist)
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04 August 2011 one of my clint has e filed his return for A.Y.-2011-12 on 1st aug 2011. where as due date was 31 july 2011. In his case refund rs. 25000 is due to him. now sir pls guide will he get refund even late filling of return?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 August 2011 refund cannot be denied due to belated filing of return. it can be processed after attract the penal interest u/s.234A and penalty. refund will be adjusted with interest & penalty then will be paid

Ravi Jhamb

Ravi Jhamb (Expert)
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04 August 2011 Refund will due after deduction of interest (1%) for late filling of return

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 August 2011 If 'AY' represents assessment year, refund will be issued without deducting interest for late filing.

Ravi Jhamb

Ravi Jhamb (Expert)
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04 August 2011 Assessment Year is combination of 12th month in which 6 month is given for assessee for filling return and 6 month given to officer for further proceed

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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04 August 2011 Assessment year 2011-12 is due date was 1st Aug 2011 , because on 31st July was sunday.

It is also mentioned by IT deptt. on all IT Forms.

Even if Refund can't be link with late filing of return i.e refund will be process as normal .