Incorrect filling of assessment year.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 December 2018 Sir,
I incorrectly filled the Assessment year for FY 2015/16 as 2015/16. This resulted in filing of ITR for the wrong FY i.e. 2014/15. This has led to a double problem. 1. Now there is a tax demand for FY 2014/15 even though there was no income that year and no TDS deducted. 2. The filing of ITR for FY 2015/16 is still pending and the last date for that i.e. 31st March, 2018 has already passed. I recognize that I made a mistake and I am ready to pay the fine. So, please guide me as to what process should I follow.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 December 2018 Nothing could be done for FY 14-15 at this time In refund case file condonation application with CIT for FY 15-16 and after approval file ITR online.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 December 2018 Same applies for rectification cases. Given that you have made gross errors, do expect this to be settled only after you are able to convince the AO.

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Querist : Anonymous

Querist : Anonymous (Querist)

22 December 2018 Sir, there is no refund in my case. Also, I have not received any notice in the compliance window for not filing the ITR for FY 2015/16. Should I just pay the taxes for FY 2014/15 - even though there was no actual income that year - to settle this?
Also, can this affect any future e-filing of taxes?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 December 2018 Pay the tax to settle this. Any future refund will be adjusted against this demand with interest in case of non payment.

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2018 Thank you sirs for your advices.