Wednesday, 10 July 2013

Time for filling ROI

Here and there everybody discussed the filling of ROI. They speak about so many things like way to filling of ROI, DO's and Don’ts. More or less all are also aware the due dates of ROI filling. Due dates for filling ROI are different in different situations. These are summarized here.
Situation
Due date of submission of ROI and Audit Report
1.      Where the assessee is required to furnish a report in Form 3CEB u/s 92E pertaining to international transaction/s
( Applicable from the Assessment year 2012-13)

Nov. 30th
2.      Where the assessee is a company
Sept. 30th
3.      Where the assessee is a person other than a company
3.1   In case where the accounts of the assessee are required
to be audited under any law
3.2   Where the assessee is a working partner in a firm whose
Accounts are required to be audited under any law
3.3   In any other case


Sept.30th

Sept. 30th

July 31st




Note:

  ·        If return is not filled with in due date or filled after the due date assessee is liable for
v  Penal interest u/s 234A
v  Penalty of Rs. 5000 may be imposed u/s 271F
v  Losses are not allowed to carried forward
v  Deductions under /s 10A, 10B, 80IA, 80IAB, 80IB, 80IC, 80ID and 80IE will not available.

·        Some time on the circumstantial need i.e. on the demand of various assessee’s  or on suo motto the income tax department extended the due date of filling of return, last year the date for filling of return for the salaried persons and those not falls under Tax Audit/Auditable under any other law time being in force i.e. 31st July was extended upto 31/08/2012 i.e. extension of the complete 31 days. Order dated 31-07-2012 no- ORDER [F. NO. 225/163/2012/ITA.II], DATED 31-7-2012

·        Due date for filling of Audit report is same

CIRCULAR No 639 dated Nov. 13, 1992

·        Where the last day for filling return/loss is a day on which the offices is closed, the assessee can file the return on the next day afterwards on which the office is open and in such cases, the return will be considered to have been filled within specified time limit  




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