Dear Prabhkar,
What is your exact problem ? Why are you thinking about filing of the 5 year old income tax return. please write me your problem in detail sothat i can give you a rational solution of it. my email id is sachinagarwalcallb @ gmail.com
Failed to file for 5years
Page no : 2
CA.Nikhil Gupta
(PRACTICE)
(768 Points)
Replied 11 May 2009
practically, penalty is not payable in routine. also, u r not having any tax liability, so dont think penalty will be levied though income tax act prescribes it for late filing. So file ur returns regularly in future.
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