Dear Sir/Madam,
One of my client asking for filing of IT return for the FY 2016-17 & FY 2017-18 both the years in this A.Y. 2018-19 .
Return filing for the FY 2016-17 has been lapsed on 31st Mar'18. Can i file the return for the for the FY 2016-17 u/s 142(1) ( We have not received the notice ) filing in form ITR 4 ( Presumptive Income ) as entering random date and in the place of notice any other notice or blank paper.
if i filed like that ( u/s 142(1) ) what course of action AO can take ( we are not going to send the ITR V to Bengaluru for verification ) ?? Shall he ignore that return or will he start any proceedings against on assesse. ??
If AO startered any proceeding against on assessee we are going to say as filed return for the FY 2016-17 for Loan Application.
Such person is in below Basic Exemption Limit.
Share your views .
CAclubindia
