06 August 2015
One of my Assessee had salary of Rs 11 Lac In assessment 2013-14. He did not filed the return for that year. Now income tax has served him notice for non filling of return. Now he has to to do online compliance for not filing of return. On asking to senior CA on this matter,He advice me that now that assessee has to file return and has to pay penalty equivalent TDS amount as it is the case of Income Escapement. Now my question is how can it be case of Escapement of Income? TAX is already deposited with government via TDS. So how should i reply on online portal. What reason should i submit to department? Is it case of income escapement?
06 August 2015
you dont have to pay any penalty right now...just file the return with the AO. with regards to online response, just respond with "return under preparation"
only where the return is picked up for assessment, the issue of penalty may arise.