Can my wife file Income tax return for AY 2008 2009 and 2009 -2010 now. She has 1 lacs Rs. Income from business. for those years.
Is filing return now allowed? Will this attract penalty or not?
4 Replies
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 01 June 2010
Mr. Kunal,
A.Y. 2008-09 is time barred If U hav taxable income or refund U can file the Return manually not electronically and office after issuing notice u/s 148 may complete the same and may issue notice u/s 271(c) and 2009-10 U hav time upto March 2011 with penalty of Rs. 5,000/- u/s 271F if it is taxable income.. It is discretion of AO
Surana,Chennai
9952967237
Sanket Damodar Karve
(Business)
(179 Points)
Replied 01 June 2010
Karunesh
In case of filling return for Assessment year 08-09 it is not possible to file return now as it will be invalid.
But for A,Y,09-10 she can file return before 31st Mrch 2011. as per Sce 139 (4).
Regards
CA Manoj Tilokani
(JOB)
(163 Points)
Replied 01 June 2010
Sanket Damodar Karve
(Business)
(179 Points)
Replied 01 June 2010
Karunesh
The income is below taxable limit for both the year, hence no need to file return for both the year.
Regards
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