anand k (pesuing pcc) (208 Points)
25 July 2009for d assessment year i did not submit my return till now...
i am an employee... for the ass.year 08-09 i had a refund around 12000 rupees.. but i didnt submit my return till now...
IF I SUBMIT THE RETURN OF ASS.YEAR 08-09 NOW SHALL I GET MY REFUND BACK?
ARE THERE ANY INTREST RATES APPLICABLE FOR DELAYED REFUND RETURNS...?
PLZ REPLAY ME
THANKING U
Krutesh Patel
(ACA)
(727 Points)
Replied 25 July 2009
Hello Anand,
You can file late return for Asst year 2008-2009 till 31 March 2010. Once you have filed return you will definately get refund once it is processed. IT department gives interest @ 6%
NiTiN JAiN
(TAX CONSULTANT & CA FINAL STUDENT)
(155 Points)
Replied 26 July 2009
You can only file your return of income for the A.Y. 2008-09 if it is below taxable amount, which in the A.Y. 08-09 was Rs 110000/- after deducting all the deductions & rebates. But if your total income is taxable i.e. you have to pay the taxes or the taxes are to be set off from the TDS deducted, then you should not file the return, because this will attract the penalty minimum of Rs 5000/- that can be increased
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