There is no provision fir extension of time
Taxpayers filing their return after the due date will have to pay interest under Section 234A and a penalty under Section 234F.
Not able to file taxes because of health problems.
My father (Age 75) owns a proprietorship company which needs to be audited every year. His health is very critical for last five to six months and he went through major surgery. The last day to file belated income tax return is 31st December 2023. He is in no condition to file income tax return at this point of time. We want that he gets an extension for filing his income tax return. Is there any provision in the law to do that? In case there is no provision in the law regarding that then what should you suggest?
Asked 2 years ago in Taxation
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6 Answers
The due date to file your ITR for assessment year 2023-24 (financial year 2022-23) is July 31, 2023. However, if one missed this deadline they can file a belated ITR till December 31, 2023. Note that Individuals have to pay a penalty of up to Rs 5,000 under Section 234F of the Income Tax Act, 1961.
What if the individual who owns a proprietorship firm which needs to be audited cannot file income tax until 31st December 2023. Is there any provision to file the tax afterwards? If there are no Provisions then what should he do?
Asked 2 years ago
Any person who has not furnished a return of income within the time period allowed under section 139(1)or within the time period allowed under a notice issued under section 142(1), may furnish return for any previous year
- at any time 3 months before the end of the relevant assessment year or before completion of the assessment, whichever is earlier.
However, a belated return attracts late filing fees under section 234F.
As per section 234F, late filing fees of Rs.5,000 shall be payable if return furnished after due date specified under section 139(1). However amount of late filing fees to be paid shall be Rs.1,000, if the total income of the person does not exceed Rs.5 lakhs.
Your auditor will be the better person to answer this query instead of an advocate.
Your advocate will be able to defend you when you are in trouble.
You need to file the same in relevant year. Id there is moo income nil returns are filed
Dear Client,
There are provisions in the Indian tax laws that allow for an extension in filing income tax returns under certain circumstances. For individuals and businesses, including proprietorships, there are provisions for filing belated returns as well as seeking an extension. Given your father's health condition and the inability to file the return by the due date, you can consider applying for an extension citing medical reasons. The Income Tax Act in India allows the Commissioner of Income Tax to condone the delay in filing income tax returns under Section 119(2)(b).
To seek an extension, you can write a formal letter to the Commissioner of Income Tax explaining your father's medical condition and the reasons for not being able to file the returns on time. It's crucial to provide medical documents and certificates to support the claim. This letter should be submitted to the local Income Tax office as soon as possible. Remember, providing accurate and detailed information regarding your father's health condition and its impact on his ability to manage the affairs of the business will be crucial in making a compelling case for an extension. While seeking an extension, it's important to keep track of any updates or notifications from the Income Tax Department for any further requirements or actions needed to process your request.
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