ITR-V not submitted for AY 2008-2009

POSTED BY Ashish Gupta ON June 27, 2012 5:14 pm COMMENTS (5)

Hi,

I have a special situation because of my negligence. Wondering if someone can help me.
For AY 2008-2009 (FY 2007-2008), I had e-filed my returns on 31st Jul 2008. Then I have to refile it for some correction and done the same on 12 Aug 2008. But I did not submitted the ITR-V to the department for both of the returns till today.
I realized it recently and get to know that I have a refund against that ITR. What can be done now? Should I sign the ITR-V generated that time and send it to CPC?

Thanks in advance for any useful information.

Ashish

5 replies on this article “ITR-V not submitted for AY 2008-2009”

  1. Ashish Gupta says:

    Thanks Ashal for the answer.
    Will there be any penalty if I file the returns now?

    1. Dear Ashish, as the dues taxes are already paid by you, there ‘ll not be any penalty for tax dues but for delay in filing of return, the Assessing officer may impose a fine. There is more to it, if the so called refund is coming due to some loss adjustment like home loan, the same can be denied by your AO.

      Thanks

      Ashal

      1. Ashish Gupta says:

        Dear Ashal,
        The refund is due to late investment (in Feb) under section 80C. So I am hoping that AO will not pose a penalty. Is it advisable to go to income tax office and check with AO first?

        Thanks,
        Ashish

        1. Dear Ashish, instead of asking, just file your ITR to the local office. By the way as per rule, the latest you can file for FY 2008-2009 was till 31st march 2011.

          Thanks

          Ashal

  2. Dear Ashish, as the return was not filed within due course of time, any loss etc. adjustment ‘ll not be available for benefit. Still you can try your luck by physical filing.

    Thanks

    Ashal

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