23 March 2017
My friend's gross salary for f.y 2015-16 was Rs.299,256 p.a. No Tds has been deducted.whether he has to file itr.what will be the consequences,if not filed?
23 March 2017
As such there is no consequence but if case comes under notice of department ITO may impose penalty of Rs. 5000, since income is more than exemption limit of Rs. 250000 return should be filed, belated return for f.y 2015-16 can be filed upto 31/03/2018 so it is advisable that return should be filed in order to be on safer side.
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