Income tax

A.R.JOSHI (Querist) 30 May 2011 This query is : Resolved
A. An Ind assessee has got his accounts audited u/s 44AB of Income Tax Act for the asst year 2009-10 and not filed the return of Income till 24.05.2011 and he has to get refund also. On line filing is not accepted by software as time barred and hard copy cannot filed as e filing is mandatory for 44 AB cases. How to file the IT return and get IT refund.

B.Please furnish the application format for filing application U/s 119(2)(b) of IT Act.If return has not been filed, whether return has to be submitted along with 44AB report to the Commissioner of Income Tax along with the application showing the refund amount which is less than 1 lac.

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A V Vishal (Expert) 30 May 2011
For the assessment year under review, tax audit of individuals were filed across the counter and e-filing was only optional. Further since the limitation for filing u/s.139 is over, the only option is to request the A.O having jurisdiction to issue a notice u/s.142 and file the return manually. Further, since the case is one of tax audit the assessee will be penalised @ 0.5% of the turnover or Rs.1.00 lac which ever is lower for delay in filing the return of income. The A.O may also proceed u/s.271(1)(c) for concealment of income.

Guest (Expert) 03 June 2011
Agree with the opinion of Mr. Vishal.

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