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Delayed filing for FY08-09

tuxuday (Asst. Manager) (27 Points)

19 July 2010

Hello All,

I didn't file my returns for FY08-09. I worked for public ltd company, so all my tax liability were fulfilled via TDS. This is the first time i will be filing returns by myself, so i have some questions.

I read for delayed filing of returns, interest should be paid. But since i have no tax liability, as all were paid via TDS, there will be no interest ? I don't remember the sec under which this falls.
I didn't provide savings proof to my employer on time, so all of my income were taxed. This includes savings under 80C & HRA. Can i have these refunded?
For step 2) should i provide proofs. I have proofs for savings under 80C, but don't for HRA.

Any help will be appreciated.

- Uday.

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10 Replies

Sagar Zankhariya (Audit Assist.) (278 Points)
Replied 19 July 2010

Hi... Tuxuday

As per Section 139(4) u can filled return in u r case upto 31-03-2011

And u r tds is all ready deducted and u have also saving which u have available deduction then dont worry,

But in u r case refunds not meet to u because refunds will be available only return filling before due date.

And further also any quarry please tell me.

Regards

Sagar Zankhariya

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tuxuday (Asst. Manager) (27 Points)
Replied 19 July 2010

Thx Sagar.

What i get is that i can file my returns without any interest. But its sad that i can't get refund for the additional tax i paid!

BTW, reading section 139, SS 4. Can you clarify the highlighted part?

(4) Any person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier:

Provided that where the return relates to a previous year relevant to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, the reference to one year aforesaid shall be construed as a reference to two years from the end of the relevant assessment year.

rajesh (partner) (30 Points)
Replied 19 July 2010

Your query is answered as below:

Query 1

Due date for filing return of financial year 2008-09 was 31/7/2009 u/s 139(1). Beleted return u/s 139(4) should had to be filed upto 31/3/2010.

Any assessee whose gross total income exceeds maximum limit not chargeable to tax i.e. Rs.150000 in your case now it is Rs.160000, are compulsory required to file their return else they will be liable for penalty of Rs.5000/- u/s 271F.

Since in your case you were required to file return and you didn't filed till 31/3/2010 therefore you will be liable for penalty u/s 271F.

As I can see in your case that you were not required to pay any tax as tax payable was covered through TDS hence the AO may at his discretion waive penalty of Rs.5000/- u/s 271F.

You are not liable for interest u/s 234A as you don't have any tax dues.

Query 2

If any assessee fails to submits documentary proof to employer required for claiming deduction under chapter VI i.e. u/s 80C, 80D, etc. then he can claim deduction at the time of filing his return. So you can claim deduction when you file your return.

Query 3

Today everything have gone online and no documentary proof are required to be submitted with return of income

Hence you are not required to submit proof at the time of filing of return. But you should have these proofs in you hands because if any scrutiny comes u/s 143(3) then you should produce these documents before AO.

As far as HRA is concerned you have to make agreement for taking house on rent with your landlord and take rental receipts from landlord duly signed by him. Only then you can claim deduction under HRA.

Think that this will solve your query.

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Samir (ACA) (113 Points)
Replied 19 July 2010

1.) If No taxes are due or to be paid no penal interest for delayed payments will be applicable.

2.) Yes you will get Refund for all excess TDS. Just file your Return ASAP (You can claim & get Refund, for ITR filed even after Due date but before 31-03-2011).

3.) No Proofs are required. Just fill all the relevant columns properly & preserve the proofs in case asked by ITO at a later date. Get figure of HRA from Form 16 provided by your employer-no other proofs are required as of now.

So don’t waste time File your Return at early date.

1 Like

rajesh (partner) (30 Points)
Replied 19 July 2010

Sorry, Pls correct the date of filing of beleted return to 31/3/2011 instead of 31/3/2010.

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Somshekar (Rankholder) (-) (158 Points)
Replied 20 July 2010

IT IS 31/03/2011

NARENDER PAWAR (CA final Student) (337 Points)
Replied 20 July 2010

u can file the the return till 31.03.2011

tuxuday (Asst. Manager) (27 Points)
Replied 20 July 2010

Thx All for clear explanations.

I filed my returns today for FY08-09 and well as FY09-10. When i informed him that i am filing returns for FY08-09, he said "no issues"

But God, all those forms were bundled like waste papers!! I am so sure that i will not get my refund! ;)

- Uday.

Samir (ACA) (113 Points)
Replied 20 July 2010

Dear Tuxuday,

Have faith in our Govt.

If all the particulars filed by you are correct, PAN quoted is correct, you have credit of Taxes in your TIN a/c and you have mentioned your Complete accurate Banks details for E.C.S refund, You will surely get the Refund of excess taxes paid within a span of may be 1-1.1/2 years.

tuxuday (Asst. Manager) (27 Points)
Replied 20 July 2010

Sure Samir. Appreciate your confidence in their oprations.

I am not sure about TIN a/c, i mentioned my employer's TAN. I double-checked my bank acc details & micr code. There was this Unique Transaction Number(UTN) where we specify TDS details, i didn't know what to write there! But i attached my Form-16 along with ITR-1, not sure whether it will ease their operations.

Anyway Thx for your assitance.