Income tax return

This query is : Resolved

CA Amrish Gupta (Querist)
Follow

20 March 2009 An Assessee wants to file his return of income for 3 Assessment years namely 2006-07, 2007-08 and 2008-09.
In the A/Ys 2006-07 and 2007-08 the assessee did not possess the PAN card. He had applied for it on 10.02.2008 and received it on 15.03.2008 i.e., he possesses PAn card only for the A/Y2008-09.
The total income of Assessee as per the requirements of sec. 139(1)for different A/Ys is as follows:
A/Y 2006-07 : Rs. 60,000
A/Y2007-08 : Rs. 95,300
A/y2008-09 : Rs.102,000

now my query is "The Assesse wants to file his return of income for awl the three assessment years, what will be the consequences with him? and what should he do for mentioning his PAN no. in d return for A/Y2006-07 and 2007-08?

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
Follow

20 March 2009 There is no consequances, If the assessee does not fall under the category mention u/s 139(1) and proviso to section 139(1) to compulsory filing of income tax return. If yes, then assessee is liable to penalty u/s 271F for Rs. 5000. Below are the last date for submitting the return u/s 139(4):

A.Y. 2006-07 - 31st March 2008.
A.Y. 2007-08 - 31st March 2009.
A.Y. 2008-09 - 31st March 2010.

So you cannot submit the return for AY 2006-07.