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Which itr applicable
Sir, my client is a worker in a shop at kolkata earn @ Rs. 6,000 /- pm. He has applied for bank loan for business purpose, now bank demand IT file for back 3 years. My question is that
1). How can he show his income and in which ITR form?
2). 2 years i.e 2014-15 & 2015-16 he can file but 2013-14 how he can file it? If he will file now for 2014-15 then any penalty will impose?
Pls clarify me.
Replies (4)
Bank also inform to show income Rs. 1,50,000 /- in a year. Pls clarify my above mention queries.
1. You can file his itr by showing salary income in ITR 1 Form.
2. Only 2 ITR can be filled at now i.e. FY 14-15 & FY 15-16. time limit for filling of ITR for the year 13-14 has been expired.
3. Penalty u/s 271 F may be imposed if the assessee income in 14-15 was more than the basic exemption limit i.e 250000
Sir,
I will file ITR 1 but I can't show any proof of salary income as he receive cash in hand. If any problem will arise regarding this matter in future?
Sir,
Is there any other option to file ITR for year 13-14? Manually ?
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