29 December 2010
An assessee has not filed a return for the last 6 years due to discontinuance of business but he wants to file a return although his business is still discontinuance and his taxable income is below slab rate. Can anyone help me in above matter? Also let me know, whether the money earned at the time of continuance of business can be spend this year without any inconvenience.
29 December 2010
If His GTI is below Slab Rate in These 6 Years Then No Penalty Filled Under IT Act. Also Money Earned During Discontinuance That Money is URs U Can Spent as Per UR Convenience.
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