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Direct Taxation
Dear Sir, These both sections could not in force -If the assesee filed the returns within the F.Y(within 31st March) or the extended date with correct A.Y year selection u/s 139(1)? If there is any clarification from the department for the same.
Answers (4)
Yoga Vishnu
Return has to be filed within the time limit specified in 139(1).
Ji, What is mean by a specified person in this section.
"specified person" means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted/collected, for which the time limit of filing return of income under sub-section (1) of section 139 has expired; and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in each of these two previous years: