13 March 2015
My client had filed the IT Returns upto the Ay 2012-13 but he stopped filing the IT Return from the Ay 2013-14 because he had to shut down the business owing to certain circumstances because of which the income remained below taxable limit. Now the IT department has sent to me an email asking me to upload the return. In this case what should I do ? Please guide me. Is there any penalty if we file NIL Return for the Ay 2013-14.
14 March 2015
Income Tax department have send mail to all Assessees as general practice don't bothered with that. However if you have file itr with below taxable limit. Their is no penalty levy in that case. You can file itr for a.y 13-14 up to 31.03.2015
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