Late filing of ITR5
sajad ali
(Querist) 14 October 2009
This query is : Resolved
I am an accountant, looking after Income Tax/ VAT accounts of various firms. The last date of filing online ITR5 for J&K state for Assessment year 2007-08 was 31st October and for Assessment year 2008-09, it was 30th November because of some disturbance in the state. But for Assessment year 2009-10 it was 30th September. Since I am not updated with the new last-date of filing ITR5. My ITR's of about 10 partnership firms (audited cases) are yet to be filed.
I want know:
what type of penalties my firms shall face for late filing of returns?
what are the remedies under Income Tax act to save my firms from these penalties?
