Return of income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2015 Can a person who has applied/alloted PAN in PY 201415
file belated return with respect to PY
201314?
Is there any need of existence of PAN during the PY to which to income relates or we can
later on apply for PAN and file belated return?

No taxes are liable to be paid?

shivaji prasad bhimavarapu

shivaji prasad bhimavarapu (Expert)
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20 February 2015 1. Belated for earlier year can be filed though PAN is allotted recently.
2. No.One Can apply for PAN and file belated return, though he does not have during the PY to which income relates.
3. Taxes are calculated based on the income and the rates/slabs as applicable to the respective assessment year.