27 January 2019
Respected Faculty, One of my client has not filed Income Tax Return of Last 3 Financial year. There is TDS Refund of around 50000/- of Last three years cumulative. Now he want to claim TDS refund, so please let me know the procedure as we can't file back dated returns. Expert opinion needed in this regard.
28 January 2019
You may file your belated return U/s 119(2)(b) of Income Tax Act, 1961. Section 119(2)(b) provides that CBDT for avoiding genuine hardship authorise income tax authority to admit an belated application or claim for any deduction, exemption, refund or any other relief even after the expiry of the period specified under the Act for making such claim or application. In this case, first you need to prepare all the belated returns and need to file along with Application for condonation of delay. This is required to be filed with Jurisdictional CCIT who will further send to to the concerned Ward/Circle to verify its genuineness. Accordingly after such verification, Tax refund amount shall be processed and it will be credited to your given bank account. For further clarification you may logon to www.wealth4india.com or call @9266242424. You may send email to info@wealth4india.com
28 January 2019
You may file your belated return U/s 119(2)(b) of Income Tax Act, 1961. Section 119(2)(b) provides that CBDT for avoiding genuine hardship authorise income tax authority to admit an belated application or claim for any deduction, exemption, refund or any other relief even after the expiry of the period specified under the Act for making such claim or application. In this case, first you need to prepare all the belated returns and need to file along with Application for condonation of delay. This is required to be filed with Jurisdictional CCIT who will further send to to the concerned Ward/Circle to verify its genuineness. Accordingly after such verification, Tax refund amount shall be processed and it will be credited to your given bank account. For further clarification you may logon to www.wealth4india.com or call @9266242424. You may send email to info@wealth4india.com
28 January 2019
How to file belated return? Do I need to submit manually belated Return to CCIT? Please guide me. Also let me know the penalty amount that may be levied for late filing.
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