17 December 2015
Hello everyone,
I want to file a non taxable return for AY 2014-15, should I go for it or not??
Is there any chance tht I will get a notice for late filing, nd penalty of Rs 5000 needs to be paid, if I file the return.....
Please reply....
17 December 2015
You can file it till 31st march 16 Secondly , its wholly depend upon assessing officer to send notice or not , In my observation , I do not found any case of non taxable income receiving notice .
18 December 2015
1. No penalty is called for in your case as neither U R saying taxable income nor you have crossed the time limit to file return for FY 14-15. by manual process . 2. You CAN check it again how it is not taxable considering YOUR all source of incomes in your name. 3. Check any TDS cut under your commercial /savings etc. activities in FY2014-15. 5. Check if any House rent income. 6. Check if you have given any gift amount to your friend or relative etc. 7. Any LTCG/STCG gain or mutual fund etc activity
If all above nil , then only you are relaxed for not filing tax untill now. Time is still left with you until 30.03.2016 to protect yourself but review on above items surely.
18 December 2015
1. No penality is called for your case as neither UR saying taxable nor you crossed tiem limit to file it by manual process now. 2. You check it again how it is not taxable considereing all source of incomes on your name. 3. Check any TDS cut under your commercial /savings etc. activities in 2014-15. 5. Check if any House rent income. 6. Check if you have given any gift amout to your friend or relative. 7. Any LTCG/STCG gain or mutual fund activity
Then only you are relaxed for not filing tax uptill now. Time is still left with you until 30.03.2016 to protect yourself after review on aove items.
CAclubindia
