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Query Answer
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1) RETURN OF INCOME FOR ASSESSMENT YEAR 2016-17, 2017-18 WHEREIN TAX LIABILITY IS THERE BUT RETURN IS NOT FILED. WHAT IS THE REMEDY?.

2) RETURN OF INCOME FOR ASSESSMENT YEAR 2017-18 WHEREIN REFUND IS DUE BUT RETURN NOT FILED. WHAT IS THE REMEDY?

3) RETURN OF INCOME FOR ASSESSMENT YEAR 2016-17 FILED IN DUE TIME BUT DEFECTIVE NOTICE RECEIVED WE CAME TO KNOW THIS FACT LATER ON. TAX WAS PAID AT THAT TIME. WHAT IS THE REMEDY?

4) GST LATE PAYMENT FEES/CHARGES IS ALLOWED AS EXPENSES OR NOT?

Reply

1) Due date for filing ITR for A.Y. 2016-17, 2017-18 (31st March, 2018) has been elapsed, now taxpayer cannot file ITR for these assessment year until unless AO has passed notice u/s 142(1) of income tax act.

2) Refund can be claimed on filing of income tax return; however the time limit to file income tax return of A.Y. 17-18 has been elapsed, therefore assessee cannot claim refund except in case of notice u/s 142(1) has received by assessee for filing of return.   

3)In case of defective notice u/s 139(9), assessee must revise his return addressing the defects the Income Tax Department has pointed out within 15 days from the receipt of intimation order. Further assessee can seek an extension by writing to his local Assessing Officer in case of failure to revise the return within 15 days. 

4) Yes, GST Late Fee Expense is allowable as business expenditure under Income Tax Act.

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