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It return

Niladri Roy Chowdhury (Article) (38 Points)

06 April 2013

SIR,

I HAVE SUBMITTED AN RETURN ITR-IV FOR THE FINANCIAL YEAR 2010-11 ON 1ST APRIL,2013 AS A FIRST TIME USER. SHOULD I BE CHARGED ANYTHING BY THE DEPARTMENT?

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PALASH (Nothing) (2000 Points)
Replied 06 April 2013

Originally posted by : Niladri Roy Chowdhury
	SIR, I HAVE SUBMITTED AN RETURN ITR-IV FOR THE FINANCIAL YEAR 2010-11 ON 1ST APRIL,2013 AS A FIRST TIME USER. SHOULD I BE CHARGED ANYTHING BY THE DEPARTMENT?

" AN ASSESSEE CAN FILE A RETURN OF INCOME , WITH IN A PERIOD OF ONE YEAR FROM THE END OF IT'S RELEVANT ASSESSMENT YEAR ". SO THEN IN THAT CASE, AS PER F.Y 2010-2011 ( i.e, A.Y 2011-2012 ) --> LAST DATE OF RETURN SUBMISSION WAS 31/03/2013 (DEADLINE ) & AFTER WHICH , IT SHOULD BE TREATED AS AN ' INVALID ' RETURN .

BUT , AS FAR AS YOUR COMMITMENT IS CONCERNED, YOU ALREADY SUBMITTED ON 01/04/2013, FOR A.Y 2011-2012.

SO, HOW CAN THIS POSSIBLE??????????

PALASH RAKSHIT.

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vaibhav (student) (253 Points)
Replied 06 April 2013

Return can be filed belatedly within one year from the end of assessment year on or before completion of assessment, whichever is earlier. The due date for filing return for FY 2010-11, belatedly is 31st March, 2013. However in case, return is not filed within the assessment year penalty u/s 271F of Rs. 5000 may be imposed.

CA LOVELY ARORA (C.A. B.Com (H) Graduate) (2151 Points)
Replied 07 April 2013

agree with Palash Raksh*t.....
your return for A.Y. 11-12 will not be accepted...

Regards,

Manikanta (articles student) (25 Points)
Replied 07 April 2013

friends is it morally right to penalise the persons filing the return belatedly who even dont know anything about incometax and related matters but later came to know about filing return by advertisements and people around him...?????? pls justify as to whether the first time tax payer need to pay penalty!!!!