Jun 042011
 

The due dates for filing Income-tax returns for the F.Y.2010-11 (A.Y.2011-12) is as follows :-

In case of assessees not covered by Audit  – 31st July 2011

(Salaries employees,Business with Less than 60 Lakhs turnover, Assessees with Incomes such as Rent,Capital Gain)

In case of assessees covered by Audit – 30th September 2011

(Business with turnover of above 60 Lakhs, Business who have disclosed profit less than 8% of the turnover & Companies)

 

Comments

comments

  26 Responses to “Due date for filing Income-tax returns”

  1. Sir
    Is there any change in due date for the asstt. year 2011-12 for the persons required get their accounts
    audited

    • No. The Due date for filing returns for assessees who are required to get their accounts audited is 30th September.

      Only in case of assessees covered by Transfer Pricing Regulations , the due date is 30th November 2011.

  2. I already pain our taxex in 31st March 2011 TDs vide F16. can we submit our return after the due date? pl advise

    • Yes. You can submit the belated returns till 31st of March without any penalty. If your TDS is sufficient to cover your tax liability , there will not be any additional interest payments. Otherwise you may have to pay the interest for late filing of returns .

    • Yes You can file your belated returns before the end of the assessment year.

  3. Hi,

    for companies with turnover > 60L, due date is Sep30. What will be the penalties, if we dont submit by due date.

    Thanks

  4. Dear Sir,

    What is the due date for audit U/s 44AD (8%) and if it is not submitted before due date what will be penalty levied by I T Department

    • The due date for audit u/s. 44AD is 30th September 2011 for the A.Y.2011-12.

      If the same is not filed, the penalty payable will be 1/2% of Turnover (or) Rs. 1 Lakh which ever is lower.

  5. my salary income in 2010-11 is less than 5 lakhs. TDS deducted is more than tax payable. i have not filed any return. can i file return now and claim refund ?

    • Yes. You can file your belated return now and claim your tax refund. But the interest on refund will accrue only from the date of filing the return.

  6. sir what is the last date of ITR in cas of Pvt. Ltd.co. sale up to 5,00,000

  7. If we failed to submit I.T. return for the AY 2011-12 before due date then what are the penalty imposed by I.T. Deptt.

    • In case of non filing of returns before due date, the position of law is as under :-

      1) Interest u/s. 234A @ 1% pm shall be payable on the tax payable (Not TDS) under self assessment till the date of filing.

      2) In case of assessees, whose accounts are required to be audited, the penalty for non submission of Audit report shall be 0.5% of the Turnover (or) Rs. 1 Lakh which ever is lower.

      3) In case the return of Income is not filed even after the end of the assessment year, an amount of Rs.5000/- shall be leviable as penalty u/s. 271F.

  8. Sir,

    What will be the circumstances, if an entity liable to get its account audited u/s 44AB files its return after due date but there is no tax liability i.e. its tax is NIL?
    Also, the accounts has been audited within due date.

    Thanks.

    • The following facts to be borne in mind :-
      1) As per Section 44AB, every assessee whose accounts are required to be audited needs to get its accounts audited and submit the audit report before the due date of filing returns.

      2) In view of the e-filing, the assessee need not submit the physical copy of the Audit report to the Income-tax Department. But the date of the audit report and the relevant columns of the reports shall be provided in the E returns. The Hard copy of the Audit report shall be retained by the assessee and be submitted to the Assessing officer , when the same is requested by him.

      3) The provisions of the law shall be deemed to have been complied with if the assessee has obtained the required audit report before the due date AND has filed his return of income before the due date.

      In the given case, if the return is not filed before due date, it is not deemed that the provisions of Section 44 AB are complied with.

      In view of the above, penalty u/s. 271B shall be leviable as follows :-

      Lower of 1) 1/2% of the Turnover/Gross Receipts
      2) Rs. 100000/-

  9. Sir, I want to know the due date of filing of return of income of an assessee having turnover <60 Lacs and he is declaring income less than 8% of turnover… nd he is getting his accounts audited by CA………

    • The Due date for the same is 30th September.
      For the A.Y.2011-12, the due date is 30th September 2011.

  10. Dear Mr. Sridhar,

    It is our first year of operation of a private limited firm. Our turn over was less than 60 lakhs. Is it still possible to submit ITR of 2010-11 by submitting late fee ? What is generally the amount of late fee ? And also, will it make process too hectic ?

    Will appreciate your response.

    Thanks,
    Amit

    • Dear Mr. Amit,

      The belated return shall be filed before the Assessment is made, before the end of one year from the end of relevant assessment year.

      But Interest u/s. 234 A for late filing @ 1% per month shall be paid in addition to the tax due.

      In case there is shortfall & deferment of payment of Advance Tax , Interest u/s. 234B & 234 C shall also be applicable.

      The process is not that hectic.

  11. Dear Sir,

    please advise what are the provisions of disallowance when TDS is paid after due date but before filing of return where due date of filing is 30th nov.2011

    thanks
    varsha

  12. Pls let me know the due date for filing of IT return for Partnership firm having Transfer pricing for Ay 12-13 (FY 11-12).

  13. Is there any change in filling ROC return for the listed Companies. For example a listed Company having its regular ROC return filing date for December 2012 is 29th Feb. now there is change for ROC & Income tax purpose year end will be same i.e 31st March. Is it true pl elaborate with ref to any circular from Govt.

  14. I could not file the Return of income for the AY2011-12 till now. When I go to the e filing , it refuses to upload.I have to received refund of around Rs. 65000/-. Which section in the IT act prohibits filing for the previous years.Pl reply
    Rgds
    B Ramanandn

    • Dear Mr. Ramanand,

      As per Section 139(4) of the Income-tax Act, 1961, a belated return can be filed within 1 year from the end of the relevant Assessment year.

      In your case, for the Financial year 2010-11 (A.Y.2011-12), the one year period from the end of the Assessment year expires on 31st March 2013.
      (i.e.,) A.Y.2011-12 – End of the Assessment year is on 31.03.2012 & one year period expires on 31.03.2013. This is the reason why the Return of income is not accepted by the system

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