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Back dated return filling for loan purpose.

11 September 2015

Dear all experts,

I am Ashish Punjabi, i want to know how can i fill retun by back dated for 2 years back and current year return as i want business loan. My business is Fruit merchant & commission agent so basically retun not req. for this business. Till date i didn't filled any type of retun as bank manager said we needs return first as income proof so how can it possiable please help me out. If retun if taxable or not doesn't matter but need to filling from back dated even doesn't matter for late return filling penalty.

back dated return should be without stamping of back dated or late paid that's it..

Please help me out experts its urgent matter regarding business.

Thanking you.

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3 Replies

Neil (Accountant Assistant) (67 Points)
Replied 11 September 2015

The only way is If U have Sum, Give Sum to Assessing Officer's PS or Peon to get it filed.

SADHU SUBRAMANYAM PANTH (CHARTERED ACCOUNTANT) (59 Points)
Replied 11 September 2015

Without Tax you cannot file return. Tax cannot be paid with a back date. Hence filing three year returns at a time is not possible that too with a back date. You may file paper return in the local Income-Tax Office which may be lodged or regularised with a notice or file two years' returns now with a moth gap and the third after March. Postpone your Loan Plan for 6 months. Or convince the Bank Manager that your business is new and you went into Tax Bracket only in 2014 and 2015 Financial years.

SADHU SUBRAMANYAM PANTH (CHARTERED ACCOUNTANT) (59 Points)
Replied 11 September 2015

I request the accounts assistants to suggest right & lawful acts fitting into the frame work of the Tax law. Filing some return in Income Tax Office may lead to issue of notices u/s. 148 which may push the assessee into troubles if entered in inward register. If not, the banker may enquire or write for confirmation of filing, if it is proved otherwise, the assessee may loose his credibility with the banker and face trouble with the Department.