Non filling of income tax return

This query is : Resolved

Munna Singh (Querist)
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28 September 2013 Sir,

I have filled income tax return of f.y. 10-11 and onward but not filled return of f.y. 09-10. I have received Notice from income tax department for Non filling of IT Return for the same.

Please guide me about this situation, details of the f.y. is as follows:
1. Turnover as per 26as is approx 28 lakhs
2. Tds is approx 58000/-

As per my view:
as per f.y. 2009-10 slabs, tax audit is not required in turnover below 40 lakhs, hence profit will be calculated as per 44ad and tax will be approx 7000 and tds credit is already 58000 then the status is refundable by Rs.50000/-(approx).

whether I can file return now or submit letter with all calculation to I.T. Officer?
whether I have to pay penalty for non filling of return?

Please guide me...

Thanks

Ankur Agrawal

Ankur Agrawal (Expert)
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28 September 2013 Dear Sir

Please mentioned Notice Detail send by department then we may provide further.

Further,

But penalty for non-filing Return under section 271F will be penalty on Assessee, however, no penalty will be imposable on assessee for failure referred to in section 271F, if assessee proves that there was reasonable cause for said failure.

Regards
Ankur Agrawal

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 September 2013 Dear Munna,

Please note that revised 44AD is applicable from 1 April 2011. Before that this section was for civil construction. Unless you are into civil construction, you shall not be eligible to claim presumptive income taxation under 44AD for the assessment year under consideration.

You may prepare a response to the notice stating the details of your taxable income.

Needless to say that your assertions shall be subject to the scrutiny by the AO.

If the AO insist of return filing, ask him to issue a notice under section 142(1) and file return in response that notice.

The penalty of Rs 5000 under 271F may be levied. But given that you may have a tax refundable position, you can build up a case for avoiding penalty.

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Munna Singh

Munna Singh (Querist)
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29 September 2013 Thank you very much Mr. Nikhil & Mr. Ankur