2006-07-21 02:54:23 · 3 answers · asked by vishal a 1 in Business & Finance ➔ Taxes ➔ India
Talk to a tax professional.
Remember that filing late is MUCH better than not filing at all.
Do you really think the IRS will never figure it out? Of course they will. Get in front of the issue.
2006-07-21 03:10:26 · answer #1 · answered by Oh Boy! 5 · 0⤊ 0⤋
Yes Dear,
There is provision under the I T Act which is exactly for such problems faced by assessee. Under Section 119(2)(b) , if a person for some genuine reason could not file the return or claim refund, he/she can file a petition to the Commissioner of Income Tax under whose jurisdiction he was filing Return for CONDONINg the delay.
You file an application on plain paper and give evidence in support of reason why you could not file the Return . I am sure CIT will condone the delay.
In fact you can also claim refund if there is any.
q4tax
2006-07-23 03:50:30 · answer #2 · answered by q4tax 3 · 0⤊ 0⤋
You need to file for an extension, but unless you are in a hospital for depression, you need to file them on time next year. You will now have to pay a penalty for filing late - that will make you more depressed.....stay ahead of the game and do it early next year!
2006-07-21 09:59:33 · answer #3 · answered by Tangled Web 5 · 0⤊ 0⤋