5 categories of income tax returns

7/31/2019 5 Categories of Income Tax Returns

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5 CATEGORIES OF INCOME TAX RETURNS

Normal, Revised, Belated, Defective and Returns in

response to notices.

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NORMAL RETURN

The following persons are required to file the

return of income:

Persons having Taxable Income,

Persons having Losses,

Charitable Or Religious Trusts,

Trusts, Institutions and Agencies,

Universities And Colleges.

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BELATED RETURN

Due date for any assessee required to furnish reportreferred to in section 92E is November 30th.

For companies and tax audit cases, the return filingdue date is September 30th.

For others the return filing due date is July 31st. If you didnt file your return, within the time, you may

furnish the belated return at any time before theexpiry of one year from the end of the relevantassessment year.

For example, as an individual assessee, if you failedto file your return for the AY 2012-13, on or before31st July-2012, you can file your belated return on orbefore, 31st March,2013.

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REVISED RETURN

In case if you filed your tax return within the time

allowed to you as mentioned above, or

if you filed your return in response to a notice

under section 142(1),

and if you realised any omission or any wrong

statement therein, you may furnish a revised

return at any time before the expiry of one yearfrom the end of the relevant assessment year or

the completion of assessment whichever is

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RETURNS IN RESPONSE TO NOTICES.

Assessing officer is in the process of making

assessment, shall serve a notice under

various sections like 142(1) , 148(1), 153A(a)

or 153C requiring you to furnish your returnof income.

All these returns are required to be furnished

within the date specified on the respectivenotices.

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DEFECTIVE RETURN

Where the Assessing Officer considers that thereturn of income furnished by you is defective,he may intimate the defect to you.

You can rectify the defect within a period offifteen days from the date of such intimation.

And if the defect is not rectified within the saidperiod of fifteen days, then, the return shall be

treated as an invalid return. The provisions of this Act shall apply as if you

have failed to furnish the return.

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5 categories of income tax returns

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