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Debashis Chakraborty

Category : Section ..,
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April 19, 2018 10:29 pm
Sir, is it possible to file ITR for AY 2017-2018 by any means?
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Amlan Dutta
You can seek condonation from principal commissioner of income tax under section 119 (2)(b)...if he agrees then you can submit time barred return using this section alongwith 139 and your assessing officer shall process....
  • April 20, 2018
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shaikshabeer

Category : Section ..,
Solved
April 13, 2018 8:41 pm
what it means "are you filing u/s 119(2)(b)/92cd" in itr new option introduced?
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Amlan Dutta
Yes one can see that the facility to upload return u/s 119(2)(b) enabled for time barred delayed claim of exemption deduction or relief and (ii) modified return of income under APA u/s 92CD

Basically , these are section that offer relief to taxpayer in terms of filing but with permission

Section 119...
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Yes one can see that the facility to upload return u/s 119(2)(b) enabled for time barred delayed claim of exemption deduction or relief and (ii) modified return of income under APA u/s 92CD <br /><br />Basically , these are section that offer relief to taxpayer in terms of filing but with permission <br /><br />Section 119 of the Income Tax Act, 1961 is about to Instructions to subordinate authorities providing measures for the purpose of efficient management of the Revenue and give relief from undue hardship to the assessee.<br /><br />Section 119(2)(b) provides that CBDT for avoiding genuine hardship authorize income tax authority to admit an belated application or claim for any deduction, exemption, refund or any other relief even after the expiry of the period specified under the Act for making such claim or application.<br /><br />However, note no Condonation for claim of refund or loss shall be entertained beyond six years from the end of the assessment year for which application or claim is made. The limit of six years is uniform for all authorities considering the application or claim.<br /><br />Eg:- Suppose , belated period of filing is over and someone could not submit return due to genuine hardship and has excess TDS interest credit ( from banks) for which he seeks refund , he can use this section to his benefit <br /><br /><br />Section 92CD provides that irrespective of section 139, where any person has entered into an advance pricing agreement and before entering such agreement,has already furnished return of income for the year to which such agreement applies, the person shall furnish a modified return within three months.<br /><br />Eg:- Suppose , i have filed a return under section 139(1) ( due return ) , but however enter in advance pricing agreement subsequently , then i can submit a modified return due to the provision of the section 92 CD
  • April 19, 2018
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