Income Tax Return for time barred A.Y. , say A.Y. 2009-10, with refund claim, can be filed? Is any circular for filing belated returns with refund claim ? What are procedure and consequences ? Thanks & Regards.
jaynish parekh (student) (34 Points)
23 June 2011Income Tax Return for time barred A.Y. , say A.Y. 2009-10, with refund claim, can be filed? Is any circular for filing belated returns with refund claim ? What are procedure and consequences ? Thanks & Regards.
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 23 June 2011
No there are not any provision in Income TAx Act to file Belated retrun after end of First Assessment year.
Expect only when notice U/s 148 has recevied.
In Present Case u can not file ITR & not claimed Refund
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 23 June 2011
ithink yes. but also there would be penalty
wait for more replies
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 23 June 2011
| Originally posted by : jaynish parekh | ||
 |
Income Tax Return for time barred A.Y. , say A.Y. 2009-10, with refund claim, can be filed? Is any circular for filing belated returns with refund claim ? What are procedure and consequences ? Thanks & Regards. |
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- you have to apply to CIT for submission of prior period return, stating the facts and reasons for non filing. penalty u/s 271 may be initiated.
- such belated returns is usually taken as concealment of income of prior periods, so maintan caution.
praveen
(Chartered Accountant)
(6971 Points)
Replied 24 June 2011
Completely agreed with Mr.USSharma.
If and only if there is strong case for not filing the returns you can apply to the CIT.
Prakash Mali
(Artical Assistant)
(166 Points)
Replied 24 June 2011
I think there is no remedy available for such assessee to file return of income for AY 2009-10.
It may some tym due to excetional factor ITO agree with return as per sec 148. but otherwise as per my inquiry with PRO, AYAKAR BHAVAN Mumbai on this tuesday on same case- the return can not be filed now
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