What consequences failed to filed return of asst. year 12-13
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2015
Dear Sir
I failed to filed Income tax return for the asst. year 2012-13 in which TDS also deducted and now I shall filed IT Return for Asst. year 2013-14 and 2014-15.
Now I want to know What a Consequences arises for asst. year 2012-13 and how I can proceeds for Asst. year 2013-14 and 2014-15.
Plz ans. me as soon as possible
Thanking you
I failed to filed Income tax return for the asst. year 2012-13 in which TDS also deducted and now I shall filed IT Return for Asst. year 2013-14 and 2014-15.
Now I want to know What a Consequences arises for asst. year 2012-13 and how I can proceeds for Asst. year 2013-14 and 2014-15.
Plz ans. me as soon as possible
Thanking you
28 January 2015
If you have not filed return for AY 2012-13 & time has also elapsed for filing the return of that year does not mean you can not file return for AY 2013-14 & 2014-15.
And also every year is viewed separately from assessment purpose.Hence you should file return at least for those year for which you can now.
Regards
If you have not filed return for AY 2012-13 & time has also elapsed for filing the return of that year does not mean you can not file return for AY 2013-14 & 2014-15.
And also every year is viewed separately from assessment purpose.Hence you should file return at least for those year for which you can now.
Regards
28 January 2015
Consequence of Non Filing of Return:
1. You can be issued notice u/s 142(1) for non-filing of income tax return if the income tax dept..
2. Losses if any during the year, would not be allowed to carry forward. Normally, if you file your return on time losses of this year can be set-off against gain of forthcoming years.
3. A Penalty of Rs. 5,000 may be imposed under section 271F if belated return is submitted. What is belated return?
4. Interest u/s 234A at the rate of 1% per month/part of the month would be charged.
Regards
Consequence of Non Filing of Return:
1. You can be issued notice u/s 142(1) for non-filing of income tax return if the income tax dept..
2. Losses if any during the year, would not be allowed to carry forward. Normally, if you file your return on time losses of this year can be set-off against gain of forthcoming years.
3. A Penalty of Rs. 5,000 may be imposed under section 271F if belated return is submitted. What is belated return?
4. Interest u/s 234A at the rate of 1% per month/part of the month would be charged.
Regards
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2015
Thnx Ms.Anjana............................................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Filing of Form 10BB instead of Filing Form 10B
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Ineligible ITC claimed
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
