LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Itr not filed

santosh kumar (student) (186 Points)

12 September 2015

Sir/Madam,

What are the consequences if an assessee who is filing if IT returns for past 2 AYs and not filed in current AY but TDS is deducted and deposited with govt. since assessee is an employee. Gross salary of employee is above Rs.6 lacs. As of now no due of tax and had chance of refund. Is he liable to file return mandatorily,if he files after due date any penalty will be imposed. Can he claim Refund?

Thank you for your reply

Reply
Follow
Share

13 Replies

S. Shiroor (Others) (1207 Points)
Replied 12 September 2015

No problem File your return now. Last year ay2014-15 I filed Return on 2nd January 2015 and got refund in bank on 14th April.2015 See that return filed is error free. check is 2/3/4/5 times - be satisfied that it is not going to change and file.

best luck

Hitesh Khanna (Accounting & Finance Taxation Company Law Audit ) (839 Points)
Replied 12 September 2015

Kindly note down the following points. 1. last date to file return is on or before 31/3/2015. 2. Even though you areb eligible for refund but your refund will get reduced by the Interest u/s 234A 3. Since your Gross Total Income is more than the basic exemption limit -you must file your return within 31/3/15 because filing beyond that date will result in monetary penalty of Rs. 5000.

S. Shiroor (Others) (1207 Points)
Replied 12 September 2015

@ Hitesh - He has not filed for current year.

santosh kumar (student) (186 Points)
Replied 12 September 2015

Return not filed for AY 2015-16

return for AY 2014-15 already filed and refund also cerdited.

Thank you for your reply

hafeez (ceo) (28 Points)
Replied 12 September 2015

no problem file a itr today and get refund

1 Like

santosh kumar (student) (186 Points)
Replied 12 September 2015

Thank you all

kuldeep (ca) (21 Points)
Replied 12 September 2015

Dear assessee in order to claim refund must filled itr as that due date for filling itr is upto 7 September 2015 , interest u/s 234a @ 1% shall be levied due to late filling of itr. It shall be adjust against refund amout(if any) otherwise tax liability amount shall be deposit otherwise further interest increase.