I have received a notice from IT department to file return for FY 9-10, 10-11, 11-12. In 9-10 and 10-11 income is below taxable limit and income is from FD interest and share only so why should I file return in this case?? because now if I will file return there will be penalty around 5000.
In 11-12 I started a new business my revenue is around 20lakh but net profit is below taxable limit so what should I do in this case??