Non filling of income tax returns

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 Dear Sirs,

I have received a letter from Income Tax department regarding non filling of income tax returns.
I have filed last return for A.Y.2009-10 and received refund. After this return I have not filed any returns.
In the Year 2009-10 (F.Y.) my Income is more than 5 Lakh and TDS has deducted. In the year 2010-11 also not filed and Income more than 5 Lakh.

Please suggest a way, how I can file returns for A.Y.2010-11 and 2011-12 and can I claim refund??

Please suggest a reply for letter ??

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

05 October 2013 Now file the return of income under section 142(1) as well as write a con donation letter to the AO for non-filing of the returns with the reason for that, If you have proper TDS credit for the tax payable on your income then you didn't committed for any mistake or fraud to the Department means didn't have income evasion so AO may consider that and may not levy penalty or punish you otherwise liable for penalty.

So now file the returns of income for such Assessment years u/s 142(1) as like as if you file regular.

Note: My suggestion is please be set your taxable income as tax payable adjust with the TDS credit, then it seems you didn't make any income or tax evasion,then chances of penalty is very low.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 OM SAI RAM

You mean I consider this letter as notice under section 142(1), and file the returns ?

I checked my income and TDS (26AS), can I claim Refund under this returns ??

How much penalty imposed by department for non filling of return on time??

Upgrade to CAclubindia Pro. Subscribe Now!

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

05 October 2013 Yes, consider that and file return but immediately reply to the letter as return under preparation and con donation with reason to non filling.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 What reason you suggest sir ?? can I mentioned that there is no tax liability, therefore I have not filed, but now the return under process under section 142(1) as required.
Please suggest some good reasoning???

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
Follow

05 October 2013 According to the Income tax act those who has their gross total income exceeding basic exemption limit or having TDS/TCS credit or having Loss is required to file their Income tax return, If loss return not filed with in the due date then looses the carry forward of losses and set-off in further years, If TDS/TCS credit holders not filed then looses the TDS/TCS credit claim.

So at the site on public you have Rs.5 Lakhs income and for that TDS deducted(so based on this Department has issued a Notice) So at site it seems your gross total income is more than the basic exemption limit so as per the act you required to file Income tax return must and should even if you have or not taxable income or refund of TDS or not etc...

So in your case filing of income tax return is compulsory, So you have time bared but you get a chance to file return of income by receipt of Notice, so i suggested file income tax returns now, and suggested due to escaping of penalty set your income as non-taxable as self assessment in your hands now.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 Thank you for your reply....OM SAI RAM