I started working in July 2010 but I forgot to file ITR which was due on 31.3.2012 for the FY 2010-11.

Am I still allowed to file ITR online? Will there be some fine for it? How long is the procedure generally because I need ITR copy for applying for a loan?

Admin’s Response:

You can file your return online now. It takes about 15 minutes once all the papers and computation is ready. There will be a fine of Rs. 5000/- for late filing provided it is a taxable return and all the taxes are already paid.