TELUGU SATYANARAYANA (ADVOCATE and TAX CONSULTANT) (172 Points)
04 May 2011sir
my query is regarding non filing of IT returns for the financial year 2008-09,2009-10,2010-11. my client does not filed the returns u/s 44ab for the above years which exceeds >40 Lacs turnover. can he file the returns right now. more over he was having the TDS Credit for F.Y. 2009-10, 2010-11. i think it will attract 271b penalty. pls can any one clarify.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 04 May 2011
YES. YOUR CLIENT WILL HAVE TO PAY PENLATY OF RS. 5000 FOR LATE FILING OF ITR FOR A.Y 09-10 AND A.Y 10-11. YOU CAN FILE ITR FOR A.Y 11-12 WITHOUT PAYING ANY PENLATY.
REGARDS,
DEVENDRA
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8539 Points)
Replied 05 May 2011
The penalty is at the discretion of the Assessing Officer. On plea to him, he may waive off penalty for the late filing of return. Better you file the return asap and wait for the department to issue notice. You may ask the AO for waiver of penalty.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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