What should be done in the following situation?
- Assessee(Individual) has income above exemption limit.
- He has not filed his return.
- One year from the end of assessment year has completed.
9 Replies
Rachit
(Analyst)
(913 Points)
Replied 28 May 2010
Since the return is time-barred, you will not be able to file the same.
There is no option left but to wait for notice u/s. 142(1).
C.Balaji
(Learner)
(1867 Points)
Replied 28 May 2010
Yes... he cannot file his return now since the time expired....
He can file his return only when he receive notice from the Assessing Officer to file his return...
sairam
(student)
(118 Points)
Replied 28 May 2010
he cant file his return of income as time is barred
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 28 May 2010
he is not allowed to file his return........ as one year has elapsed even after assessment year...........
manoj
(student)
(5205 Points)
Replied 28 May 2010
he cant file return now
but if tax liability arise than pay that to avoid any interest or penalty
Kumar
(Article)
(922 Points)
Replied 29 May 2010
If u are a new assessee i.e u havent filed any return till date then try n avoid disclosing this income also....if possible to avoid any kind of penalty etc.
or else pay the tax liability to avoid interest which might even help in reducing the penalty.
Jagdish Bhalia
(Practicing CA)
(453 Points)
Replied 29 May 2010
Since the return is time barred you cannot file your return
Prasanth Nair V
(ACA,ACS,CWA Final,Mcom)
(557 Points)
Replied 29 May 2010
As Return of Income is not filed within time limit u/s 139(4), now it cannot be filed. So the AO may oissue notice u/s 142(1), to file returns or may issue notice u/s 144, for the course of Best Judgement Asssesment.
Dheeraj
(Learner)
(1100 Points)
Replied 29 May 2010
asessee ye return to bhar nhi sakta
par agli to bharwa lo
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