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Please help regarding itr

RIZWAN AKHTAR (ACCOUNTS EXECUTIVE) (87 Points)

04 June 2012

Dear Sir,

Can we file income tax return for assessment year 2009-10 & 2010-11 right now without fearing of penalty (Rs.5000.00) of section 234 & 271.

Thanks & Regards

Akhtar

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10 Replies

Karthikeya2020 (Student) (2030 Points)
Replied 04 June 2012

Income tax return for A.Y.2009-10, u can not file now its time limit was completed 31st march2012.

And income tax return for A.Y.2010-11, u can file now and has some conditions :

If no tax liability for A.Y.2010-11, then no need to pay penalty (or) interest according to 234A,B&C.

If tax liabillity is there, then u have to pay Interest according to 234A,B,&C. and file the Return.

Regards,

Karthikeya...

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RIZWAN AKHTAR (ACCOUNTS EXECUTIVE) (87 Points)
Replied 04 June 2012

Thanks Sir,

No income tax liability for the assessment year 2010-11 but want to return file for the purpose of refung of TDS which was deducted in financaial year 2009-10.

Thanks & Regards

Akhtar

RIZWAN AKHTAR (ACCOUNTS EXECUTIVE) (87 Points)
Replied 04 June 2012

Thanks Sir,

No income tax liability for the assessment year 2010-11 but want to return file for the purpose of refung of TDS which was deducted in financaial year 2009-10.

Thanks & Regards

Akhtar

Mahesh Saboo (Audit Assistant) (21 Points)
Replied 08 June 2012

You can file your return for Asst. Year 2010-11 and can claim refund of Income Tax. To claim refund of income tax seek Form 16A from the deductor of your TDS and see whether deductor has qouted the correct PAN no. otherwise you may face problem while claiming your refund.

shivaji prasad bhimavarapu (CHARTERED ACCOUNTANT) (2391 Points)
Replied 09 June 2012

For the ASST yr.2010-11, the return can NOT be filed now voluntarily.The last date for filing a belated return for Asst yr 2010-11 is 31.03.2012. You can claim such refund with the a request to the concerned Comm.of IT.

for penalty u/s 271 F, if your Gross Total Income( before claiming Chap.VI A dedictions) is above the Minimum taxablelimts and the return is filed beyond the Asst Year, you are liable for Rs.5,000/- penalty.Ex. For Asst yr 2011-12,last date for filing IT Return voluantarily is 31.3.2012 for Not Attracting 271 Fpenalty. The maximum last date a return can be filed for Asst yr is 31.3.2013. You can apply these for your case relevantly.

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SURENDRA (JOB) (70 Points)
Replied 11 June 2012

sir Karthikeya Ji are you sure that we can filed the return now of YA 2010-2011, 2011-12 one of my friend has no tax liablity for these year and had filed AY 2009 -2010 Last return and now for Lon purpose he want to file the returned in continue as AY 2010 - 2011 AND 2011 - 2012, can he do this at any cost like panelty or interest etc.

plz help

Rajiv (NA) (23 Points)
Replied 22 October 2012

Hi,

One of my frein haven't filed the ITR for AY 2009-10. There wasn't any tax due on him, rather TDS was deducted Rs 600 more than tax liability.

Now he needs to file the return, because he wants to avail a bank loan.

Please advise, what can be done. e-fling is not allowed for AY 2009-10 on incometax site.

Thanks

asif kadiwala (Proprietor) (23 Points)
Replied 10 November 2013

one of my client received notice from income tax department that he is not filed income tax return for the assessment year 2009-2010 and 2010-2011.

now i observe the case and find out that the same assessment year he is actually not filed the return and as per his transaction

asif kadiwala (Proprietor) (23 Points)
Replied 10 November 2013

my clients transaction during the assessment year 2009-2010 and 2010-2011 cross the audit limit.

now officer wants reply against notice issued to my client that he is defaulter to file income tax return as well as the cash transaction of Rs. 10 Lacs and above reflects in bank statement i.e. to monthly...

suggest me at this stage what should i do?