07 February 2013
Dear all, One of my friend wants to file his return for F.Y. 2010-11 who is having total income of rs. 4,37,000/- (including rs. 4,10,000 as commission and only rs. 27,000/- as salary). rs. 41000/- had been deducted as TDS on commission on 410000/- @10%. Now if he filed his return than threshold limit of 160000/-first has been adjusted from total income of rs. 437000/- and after that he wants to claim deduction u/s 80 c, ccc which is comes to rs. rs. 31584/-, hence refund of more than rs. 15000/- arises to him. now my question is that is there any problem in filling his return now when the last date for itr v fy 2010-11 extended upto feb 2013 and whether he has faced any difficulty in rec. his refund? Plz Reply, its urgent ! Thanks in advance
08 February 2013
As per sec 139(4) , time limit to file belated return is one year from the end of relevant AY and no interest is payable on account of delay filing of return since in ur case it is refund due.
CAclubindia
