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POSTED BY ON December 13, 2010 3:29 pm COMMENTS (3)
A friend of mine asked
Can the IT returns for FY 2009 – 2010 (that ended Mar 31 2010) be still be filed ?
All necessary tax has already been deducted by the employer and infact there is a refund from IT dept itself.
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Ajay,
You can file your It Returns for FY 2009-2010 up to 30th March 2011.
If there is any tax outgo you will have to pay a penalty @1% of income tax to be paid p.m.
After 30th March 2011, you can still file your IT returns but with a penalty of Rs.5000.
Jitendra is correct, just adding to that. Penalty may or may not apply as it completely depends on Assessing officer, most of the time they dont do that.
Here is the link about what is the impact and other information related to late filing your returns: http://www.simpletaxindia.org/2008/07/itax-return-filing-after-due-date.html
Yes you can also look at https://www.paisaa.in/blog/?p=54
You can easily file your ITR online on websites like taxmunshi.com