Hariharan L (Audit Assistant) (30 Points)
05 January 2011Dear Members,
I've come across a case where a company X Pvt Ltd has prepared its accounts for FY 2007-08 and is yet to file its return. The due date for filing the return is over on 31.03.2010. Is there any other option for the company to file its return? Especially, consider the fact that some FBT is payable by it.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 05 January 2011
FY 07-08 last date of filing was 31-03-2009
Devendra
(Chartered Accountant)
(4775 Points)
Replied 05 January 2011
Dear Hariharan,
The last date for filing the Income Tax Return for A.Y 2008-2009 (ie. F.Y 2007-2008) was 31/03/2010.
If the company is liable to tax audit, then it is mandatory for it to get its accounts audited. If they fail to do so then Section 271B and 271F will attract. (Refer section 271B and 271F).
Refer the following links for better understanding:-
Regards,
Devendra Kulkarni
Hariharan L
(Audit Assistant)
(30 Points)
Replied 06 January 2011
I'd made it clear in my query that the due date is over. What I need to know is whether the company has any option to file its return now for A.Y 2008-09. Possibly, there could be an option to file the return with permission from the CIT/ DCIT. Kindly post your reply accordingly.
CAclubindia
