25 July 2013
Hello, I am asking on behalf of my father. My father is a pensioner and has not filed his returns from AY 2009-10 onwards. The reason being he was critically ill in August 2008 and since has been recovering. In financial year 2008-09, he sold his house and the money was invested in Long Term Capital Gains. Subsequently, this amount was partly invested in building a new house. Now, he wants to voluntarily file his returns for AY2009-10, AY 2010-11, AY 2011-12, AY 2012-13 and AY 2013-14. My query is, which ITR form has to be used to file his returns for AY 2009-10 as he wants to show indexation towards the house he sold. Appreciate a quick reply. Thank you, Merv
26 July 2013
he is not file the ITR for the year F Y 2010-11 and previous years due to all assessment are already complete, he can file F Y 2011-12 if his income below exempted limit.
26 July 2013
Thank you Rupesh for your reply. He has received a letter from the Income Tax department stating that he has not filed returns for AY 2010-11, Ay 2011-12 and Ay 2012-13 as required under section 139/(1). He has been asked to submit acknowledgements of the same if returns have been filed. What should be done as he is not in a position to file the same and someone has to do it on his behalf otherwise penal/prosecution provision u/s271F and 276CC will be invoked. Please reply at your earliest. Thank you.
26 July 2013
Hi Rupesh, Just to add a couple of lines. He has received a letter from IT Department asking to show acknowledgement of IT Returns for AY2010-11, AY2011-12 and AY2012-13. Otherwise penal/prosecution provision u/s271F and 276CC will be invoked. As he cannot file the returns, someone has to do it on his behalf. So please advise at your earliest. Thank you, Merv.
02 September 2013
Now, you file the returns physically for all the years to the ITO from whom you have received the notice or letter for non filing of return. After filing of the returns you can file the copy of ITR. Once you file the return be prepared to receive a notice u/s 148 for regularization of your return but do not forget to paid the due taxes. In case you have received notice u/s 142(1) for filing of the return then you can file it online now.
04 July 2018
Hello, I am asking on behalf of my neighbour. She is a senior citizen and her only income is from her bank fixed deposits. Which ITR form for FY 2017-18 (AY 2018-19) should she fill and under what section should she fill her Savings Bank account interest? Thank you.
CAclubindia
