Can an individul file last 5 year it return??

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One of my friend is a teaching Professional. He is Teacher in a Pvt. Classes. He has not filed returns since FY2009-10. He has TDS tax credit of 18000 to 20000 every year. After computation of income he may get 8000-10000 TDS refunds each year.

As on Today 21.03.2014, how many years can ITR be uploaded.?? He is ready to bear interest/penalty. shall he try to upload all 5years on IT Efiling? will IT department accept these returns? what are the clauses/section to keep in mind while filing return??? which ITR forms to be filed ITR 1 or ITR 4?? 

Replies (21)

Dear Sir

Please refer to circular 4/2014 recently issued. Which says you can file your return from A.Y 2009-10 onwards if you are having refund status in your return. So file your return as soon as possible as the last date is 31.03.2014.

Secondly there will be no penalty and interest if you are having refund cases as mentioned by you.

Next, use ITR -1 and show the amount as other income (tution fees) in income from other source. 

Regards 

Dear Sir,

I am not able to find the Circular which u mentioned. Can u pls send LINK of this circular.

I have one question:

My friend has tax credit out of TDS @ 10% means TDS u/s194J. Even though can he file ITR-1 ...??

Pls reply soon. Thanks.

Dear 

Then show it as a profession under ITR4. In P&L just enter the gross amount in the last where it is writen " books not mainted".

and Circular is displayed on income tax site please visit on site. On the main screen itself.

Regards

Circular No. 04/2014, dated 10.02.14 only relaxes the date for sending the ITR-V for AY 09-10,10-11 and 11-12 till 31.03.14 for returns e-filed with refund claims within the time allowed u/s 139 of the act.
.
So, you can file belated return for F.Y. 2011-12 and for F.Y. 2012-13 only.

 

Agree with deepak gupta sir. You can file belated return only for FY 11-12 n FY 12-13.
If there is no refund and no tax payable then too one can file return for last three years ?
Yes then also you can file return for last three years either there is refund or not..... @ neelam
I think there is some mis-intrepretation of circular.....it says filling of ITR-V i.e. Sending signed hard copy of ITR V to CPC ......u can file return for only two previous years i.e. 2011-12 & 2012-13.....nt three or five...
100 percent agree with deepak gupta jee
Ravindrasinghji nd DIPAK guptaji is right. U can file only 2 years return I.e. a.y. 12-13 nd 13-14. Nd a.y. 12-13 return last date is 31 st march 2014. So hurryup...
I agree with CMA RAVINDRA SINGH JI

Dear All,

I am thankful to all reply and opinion.

As per my knowledge... after e-filling of any ITR forms it generates ITR-V and this acknowledgement is to be submitted before 31.03.2014. Is this fulfil the Circular 4/2014 which says about ITR-V.. ???

As per all your reply and opinion, for a Professional Income Individual (like my friend).......... now i am planning to file IT return in ITR-1 for FY 2009-10 & FY2010-11 (as income from other sources) which i will e-file max by 23rd Mar...   AND  IT return in ITR-4 for FY 2011-12, FY 2012-13 and FY 2013-14 after 1month. Is this OK to do efiling this way..???

Thank you all,

Circular is with reference to sending Acknowledgement Copy singed by the Assessee to CPC Bangalore. At any time only two returns can be filed.
iTR V is acknowledgement copy of uploaded return agree with cma ravinder

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