CA Mohit Garg
(CS Student)
(213 Points)
Replied 03 July 2011
Gopal,
If ur sales is below the exemption limit of VAT (as per ur state) than U needn't has to apply for vat, so in that case u willn't have any TIN no.
And If ur income is below the examption limit of compulsary maintainance of books than u can file ur return without maintaining books of accounts i.e. without bank a/c & registered firm.
So, if u fullfill the above mentioned both conditions than u can file ur iTR
CA. Roopali Kadam
(Jobs on assignment basis.)
(1459 Points)
Replied 03 July 2011
| Originally posted by : Raju (Meger, Aquisi,Takeover) | ||
 |
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 descriptttion regarding your income seperatly head wise. Thanks |
 |
my income is from capital gains from sale of mutual fund short term and interest on fd which is all together less than 50000, but i am having refund of 2000 for tds on int on fd.
i have not filed return bcoz i am not sure of AIR details that i have to show.
can i be penalised for not filing written?
CA JAGJIT
(Cleared CA in first Attempt)
(142 Points)
Replied 03 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.
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 04 July 2011
YES YOU CAN FILE THE RETURN...
krishna Patel
(M.COM. CA FINAL CS Professional(Final))
(420 Points)
Replied 04 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.
srinivass
(CA Final)
(2466 Points)
Replied 04 July 2011
| Originally posted by : aNkuR jAin.................... | ||
|
|
extended date is only fr sending aknwldgmnt to CPC banglr |
|
you can file ur return....
Kapil Bansal
(Accountant)
(47 Points)
Replied 04 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.
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.
Hari
(Chartered Accountant)
(159 Points)
Replied 05 July 2011
hi,
u can file your income tax return for the A.Y. 2010-11 up to march 31, 2012.
and payment of penalty and interest for late filing of incometax return will depends up on your balance tax payable i.e. after deducting tds/advance tax paid
MUKESH SHARMA
(B.Com , MBA, CS*)
(108 Points)
Replied 06 July 2011
Dear Gopal
It is not necessary to get TIN No. for Business but have a limit if ur turnover does not exceed 4,99,999 then no required. And in case u will not charge Tax on ur Invoice & can't claim for Tax which u have paid at the time of purchase.
amit jain
(Chartered Accountant)
(532 Points)
Replied 08 July 2011
you can file the return and penalty will be imposed only if have net income after deduction chargeable to Tax.
ratnesh maheshwari
(Chartered Accountant)
(81 Points)
Replied 21 June 2012
Hello,
Can I file the return for AY2010-11 after 31march 2012?
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 21 June 2012
Sorry Mr Ratnesh you cannot file return after 31st March 2012 .....
ratnesh maheshwari
(Chartered Accountant)
(81 Points)
Replied 21 June 2012
Are u sure Siddharth
Is there any way to file the return For AY2010-11 now?
Will it matter that return is a nil tax return?
Amit Tiwari
(Accounts-Executive)
(21 Points)
Replied 03 June 2013
Hi CA's
I have Efilled IT for AY 2011-12 (FY 2010-11) & AY 2012-13 (FY 2011-12). Now can I file IT return for AY 2010-11 (FY 2009-10). it is salary income, as per form 16, a refund of Rs. 850 is showing.
can I file his IT return ? do I need to pay any penalty ? I will not pay any penalty. Shall I avoid to file IT return for said year?
regards
Amit
dashrath patel
(Chartered Accountant)
(98 Points)
Replied 09 June 2013
You can not file return now.Only CBDT has power to condone the delay.
CAclubindia
