24 December 2010
1-If Trust is getting and Exemption Certificate fro ITO that will be revoked.
2-Best Judgement Assememnt can be done by IT department for the past 6 years.
3-If any thing found wrong and concelament of income arises then 10% to 300% penalty can be imposed.
4-Any person who has not filed the return within the time allowed may be file a belated return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, which ever is earlier. However, in case of returns relating to assessment year 1988-89 or any other assessment year, the period allowable is two years.
Trust can file belated return for last 1-to 2 years for which assessment has not been completed by th ITO.
5-Rs.5000 penalty shall be imposed on last 1 years for non submission of ITR.
If there is specific Unresolved Query Pls Visit the Office of the any Practicing CA.
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