late filing of IT returns

[tulipz]

Hi,
Will late filing of IT returns effect the HSMP application? Taxes were however fully paid on time.

Please let me know if we should simply file our returns now and apply for HSMP (first time)

or wait until june to apply with new tax reciept (returns filed on time)

Please advice asap...

-Tulipz

[tulipz]

Someone please reply?

[gorajim]

Hiya,

The late filing of IT returns has no bearing on the HSMP application form. As long as you have a stamped return, it does not matter when you filed it.

Obviously, the filing of returns is only a verification of the taxes paid by you and does not constitute actual payment of the tax (unless you hit a huge income in the last few days which wasn't accounted for... )

It is pointless to wait for your latest tax return. Under normal circumstances, in India, the returns are filed towards June - July and by then the whole format have have changed. If you feel confident, apply now.

Cheers.