hi everbody
can i file itr now for A.Y. 10-11 without penality of5000
cbdt extended the date
confusion is here that date extended for Sending Acknowledgement or for filing itr for A.y. 10-11
https://incometaxindiaefiling.gov.in/portal/index.do
29 Replies
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 02 July 2011
extended date is only fr sending aknwldgmnt to CPC banglr
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 02 July 2011
Yes you can file the return. It will be a belated return.
PARDEEP KUMAR AGGARWAL
(PARTNER)
(286 Points)
Replied 02 July 2011
Dear Gopal,
you please first let me know your total income. If it crosses the minimum exemption limit, you may have to pay penalty.
Though you can file your return, you have to take care of the rulings also.
CA. MANAL CHAWLA
(CA + CS Professional)
(566 Points)
Replied 02 July 2011
yes u can file ur return without any panlty up to 31st March 2012. for the a.y. 2010-11.
Bhaskaran Chackrapani Warrier
(Chartered Accountant)
(80235 Points)
Replied 02 July 2011
Your assessment year ended on 31/03/2011. If u file return now and onwards, penalty u/s 271F of the Income tax Act,1961 will be proposed by the AO.
shaishav soni
(CA final)
(348 Points)
Replied 02 July 2011
Gopal u can file return for A.Y 2010-11,u need not to pay penalty if your net total income was 160000 or less,if it was more than 160000 (after all deductions from 80c to 80u) u will have to pay tax together with penal interest u/s 234b & c.
Gopal Sengar
(CA STUDENT)
(531 Points)
Replied 02 July 2011
it will be below 160000 Rs.
& my other Q. is that
if a person trade some goods but have no tin no. he does not use bill as well as at the time of purchase or sell
also not having any firm , no current account
ITR can be filed
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 02 July 2011
| Originally posted by : B.Chackrapani Warrier | ||
 |
Your assessment year ended on 31/03/2011. If u file return now and onwards, penalty u/s 271F of the Income tax Act,1961 will be proposed by the AO. |
 |
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 02 July 2011
| Originally posted by : Gopal Sengar | ||
|
|
it will be below 160000 Rs. & my other Q. is that if a person trade some goods but have no tin no. he does not use bill as well as at the time of purchase or sell also not having any firm , no current account ITR can be filed |
|
purchase or sale of goods is transfer of ownership of goods in exchange of money, for such transaction "invoice" is issued by seller confirming the value of the goods, plus taxes if any.
without purchase or sales invoice, one can not establish the sales turnover atleast, it may be brokerage for sales of somebody else you received.
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 02 July 2011
One year return can file upto 2 years, For AY 2010-11 last date to file is Mar 2012.You can file the return without penalty but need to pay interest on tax liability if you have any...
ONE YEAR RETURN CAN FILE UPTO 2 YEARS...
Ayushraj
(Professional)
(125 Points)
Replied 02 July 2011
I think return for the A.Y. 2010-11 can normally be filled without worring about any penalty up to 31st March 2012.
Penalty u/s 271F of the Income tax Act,1961 is levied by the AO in reare cases.
So even if your income is in taxable bracket, You should not worry what AO will do, just File your returns
bipinchandra
(article)
(60 Points)
Replied 02 July 2011
yes you can file.
abut the condition is total income of the assessee abefore giving effect of sec 80 deduction below the maximum amount not chargeable to tax . it meance gross receipt shall be lower than 1.60 alacks
![Ritesh Indian Son[CMA*CS*CA]](/img/avatars/my_avatars/289269.jpg)
Ritesh Indian Son[CMA*CS*CA]
(" Simple Living High Thinking ")
(4117 Points)
Replied 02 July 2011
yes, u should file before 31/3/12.....:)
Raju (Meger, Aquisi,Takeover)
(Audit Assitant)
(56 Points)
Replied 03 July 2011
You are the indiviual person thats why your due date of furnishing the return for the A.Y 2010-2011 is 31st july 2011 but in case of not furnishing the return on or before the due date you can furnish the belated return under section 139(4). You can file this return of A.Y. 2010-2011 by the end of expiry of one year from the end of relevant previous year i.e. March 2012.
Now if talk about the penalty and interest than in your case you will have to pay the simple interest under section 234A @ 1.5 @ per month on the amount of tax due. But you are NOT liable to pay pay the penalty unders section because you are not covered under section 139(1) since your income not exceeding the maximim limit of Rs 1,60,000
IN case you are doing the trading you can file the Return so please mention your whole descripttion regarding your income seperatly head wise.
Thanks
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