Time Limit For Filling Return Of Income [Section 139(1)] 4.2. TIME LIMIT FOR FILLING RETURN OF INCOME [ SECTION 139(1)] Description Due Date 1. Salaried Employees------------------------------July,31 2. Business Class - Non-company Assessee a)Whose accounts need NOT be compulsorily audited--July,31 b)Whose accounts required to be compulsorily audited---July,31 3. Co-operative Societies---------------September, 30 4. Trust/Charitable Institutions claiming exemption u/s11--September, 30 Note : Failure to file Returns within the due date attracts interest @ 1% p.m. on the balance tax payable from the due date to the actual date of filling. If a person required to file Return u/s 139(1) fails to file Return before the end of the relevant Assessment Year a penalty of Rs. 5,000 shall be levied.
Posted on: Mon, 16 Sep 2013 10:10:29 +0000
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