Lecture 1 (Module 4)

Question 1

Section 139(1)

Answer 1

Filing of return

Question 2

Section 139(1) proviso 4

Answer 2

Return to be filed by beneficial owner and beneficiary if asset is located outside India.

Question 3

Section 139(1) Proviso 5

Answer 3

If return is filed by beneficial owner and income derived from such asset is shown in itr of beneficial owner then beneficiary is not required to file return.

Question 4

Section 139(1) Proviso 6

Answer 4

Income to be filed if above BEL without giving effect to provisions of chapter vi-a

Question 5

Section 234F

Answer 5

Fee for non filing of itr
5k - before 31st December
10k - after 31st December
1k if total income is less than 5L

Question 6

Section 139(3)

Answer 6

Loss return if not filed before due date in 139(1) then loss cannot be carried forward.
Exception- House Property Loss

Question 7

Section 139(4)

Answer 7

Belated return up to end of relevant AY

Question 8

Section 139(5)

Answer 8

Revised return up to relevant AY

Question 9

Section 139(9)

Answer 9

Defective return

Question 10

Dhampur sugar Mills limited

Answer 10

Revised return substitutes original return