Due Date Chart - July '15.
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CA. Abhijit Kotecha
Jul 9, 2015, 9:29:24 AM7/9/15
to Muchhala Associate
Dear Clients / Friends,
Attaching herewith the Due Date Chart covering important statutory compliances to be made in the month of July '15.
Disadvantages of filing the return of income after due date:
a) Carry forward of business loss / Capital Loss NOT Allowed.
b) NO opportunity to file revised return of income in case of any rectification to be made after filing the belated return (original).
c) Unnecessary burden of interest and penalty for late filing, which is not allowed as an expense.
d) Few deductions / exemptions (Sec. 10A / B etc…) under Income Tax Act are allowed only if return of income is filed within the due date.
In case of any further clarifications, please do let us know.
Assuring you, The Best of our Services, As Always,
For Abhijit J. Kotecha & Associates,
For Muchhala & Associate,
CA. Abhijit J. Kotecha.
________________________________________________________________________________________________________
Attaching herewith the Due Date Chart covering important statutory compliances to be made in the month of July '15.
Disadvantages of filing the return of income after due date:
a) Carry forward of business loss / Capital Loss NOT Allowed.
b) NO opportunity to file revised return of income in case of any rectification to be made after filing the belated return (original).
c) Unnecessary burden of interest and penalty for late filing, which is not allowed as an expense.
d) Few deductions / exemptions (Sec. 10A / B etc…) under Income Tax Act are allowed only if return of income is filed within the due date.
In case of any further clarifications, please do let us know.
Assuring you, The Best of our Services, As Always,
For Abhijit J. Kotecha & Associates,
For Muchhala & Associate,
CA. Abhijit J. Kotecha.
________________________________________________________________________________________________________
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