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Nitin Kotian (Advocate)     25 March 2013

Penalty for non filing of returns

Hi,

I have received an Sms from Income Tax to File My Itr for F Y 2012-13. I had heard that ther is one year grace time to file the returns without any fine.

Pls let me know the section if i am correct.

 

Regards,

Nitin Kotian



Learning

 4 Replies

Neha Sharma (Student)     25 March 2013

Last Date for Financial Year 2011-12 is 31st March 2013

 

VARUN MAHAJAN (Proprietor)     26 March 2013

You can file return u/s 139(1) upto 31st July

but you can file your this year return u/s 139(4) for next 2 years last day will for  filing of your return will be 31st 2015

M.R.K.PRASAD-Advocate (SELF)     28 March 2013

Financial year 2012-13 is the assessment year 2013-14 which come s to file the returns from 1st April 2013 nd 31st july 2013..and there after interest will be charged U/s 234 A.  It can b filed even after 31st Macrh 2014 and uo to 31st March 2015 but penalty can be imposed by assessing officer if the reason for delay filing is not satisfactory..

VARUN MAHAJAN (Proprietor)     28 March 2013

I agree withM.R.K. Parsad.

But whereas your question all the relevent information is been provided


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