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Income tax return

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 July 2012 Dear Sir,

Due to some reasons I could not file ITR of A.Y. 2011-12 (nil tax) on time. And the same I have filed on 25 July, 2012.

I want to know that, the above ITR is valid.
Can department will impose any penalty or interest on me.

Please reply

Thanks & Regards
D.K. Goyal
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Mohit Naithani

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Mohit Naithani (Expert)
27 July 2012 No, If you have nil tax liability (did not exceed the maximum threshold limit) or having income less then Rs 500000/- (Without deduction) + Interest Income less then 10000/- then their is no need to file to ITR.

Plz go through Sec 139 of Income tax act.
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
27 July 2012 yes its valid and not taxable so no penalty will impose. but you should send copy of itr to CPC early
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Guest

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Guest (Expert)
27 July 2012 There is no penalty and interest obligation in this case.

Regards

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