Can ITR for A.Y. 2013-14 be filed now, without any interest or penalty? My cousin was doing job in 2012-13. His employer has deducted TDS on salary. But my cousin hasn't filed his return. Please suggest.
Naina (CA Student) (477 Points)
29 April 2015Can ITR for A.Y. 2013-14 be filed now, without any interest or penalty? My cousin was doing job in 2012-13. His employer has deducted TDS on salary. But my cousin hasn't filed his return. Please suggest.
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 29 April 2015
Dear Naina,
Section 139(4) states that every assesse can file his/her belated return with in one year from the end of the assessment year relevant to previous year or before completion of assessment u/s 142(1). For Financial year 2012-13(AY 2013-14) belated (late) return can be filed by 31.03.2015 (i.e one year from end of assessment year 2013-14 ending 31.03.2014)
If return is filed after end of assessment year (after 31.03.2014 in case of return of Fy 2012-13) then assessing officer may impose penalty up to Rs 5000/- under section 271F.
Interest u/s. 234A @ 1 % per month applicable on Net outstanding Tax due amount.
If you want to file the return, then you need to pay interest and penalty.
MASTER MIND
(CA on Duty)
(104 Points)
Replied 29 April 2015
Last Date was 31/03/2015. So cant file IT return for A Y 2013-14.
Even by paying interest & penalty u cant file return now.
The date is already gone.
yogesh
(no)
(101 Points)
Replied 29 April 2015
Jainam Doshi
(CA Job)
(34 Points)
Replied 29 April 2015
Naina
(CA Student)
(477 Points)
Replied 29 April 2015
I registered the PAN of my cousin for online filing of ITR for A.Y. 2014-15, then it was showing under pending actions. ITD has asked for the filing/non filing of ITR for A.Y. 2013-14 and also asked that if the TDS deducted for A.Y. 2013-14 relates to him or not.
His salary in A.Y. 2013-14 is approx. Rs. 6 lacs and TDS deducted is approx Rs. 47k.
Please suggest what course of action should we follow?
MASTER MIND
(CA on Duty)
(104 Points)
Replied 29 April 2015
Naina,
For AY 2013-14 u have to just inform to department, whether that TDS is related to ur income or not.
Also u have to just give a reply whether u have to file ur return pr not. if yes then just write Ack no. date etc.
For this reply first login on website and go to compliance and furnish ur details
rajat
(student)
(41 Points)
Replied 30 April 2015
CA HAYEDAR SHAIKH
(Practice )
(622 Points)
Replied 30 April 2015
If it asking under the pending actions, you need to provide the details as required.
It is necessary to remove the same from pending actions.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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