Return filling for the F.Y 06-07 ?

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Murtaza I Bhagat (Querist)
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23 August 2009 Dear sirs,

I want to know If I didn't file my Business Return for the Year 2006-07 but I have file till 05-06 and tring to file till 2008-09.
I think we should file return for the year 2007-08 & 2008-09.but what about 06-07 ? by paying Panelty of Rs.5000/- can we file the return or not ?
If panelty has to pay, where we have to pay all the panelty from which challan ?
if its ch.280 or other ?

Pls help me ?

thanks in advance

Rajesh Thakker

Rajesh Thakker (Expert)
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23 August 2009 Dear Murtaza,

1st it is not clear from your question that your return is for firm or for individual/HUF.

If your return for status individual and you have not taxable income, then it is not compulsary for you to file your return u/s 139(1). Howevevr, if you have taxable income for that year, it is adviseble to file your return with payment of tax, evenif, it is belated. The department will issue a notice u/s 147 to you and assessed your income according to 147. The AO may charge penalty of Rs. 5000 if he think fit.

In the case of firm it is compulsary to file the return u/s 139(1), you file your return, evenif belated.