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Need Expert advice

Anand (Student) (51 Points)

15 March 2015

Hello Sir,

Kindly help me regarding following issues

I am a salaried employee having taxable income Rs.5,50,000

1)For ay 2013-14 i have not filed income tax return and no tax amount is pending . 2 days ago i have received Compliance from income tax department to submit my online response. Do I need to file ITR for AY 2013-14?

2) For ay 2012-13 i have not filed income tax return and still Rs.12000 tax amount is pending. Till now i have not received any notice.

For both the assessment years my taxable income crossed Rs. 5lakhs.

Thank you

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2 Replies

CA Raj Doshi (Practising CA) (8799 Points)
Replied 16 March 2015

File return since you are compulsorily required to file. Also, no penalty to be paid. Clear tax dues with interest and file return of income. A.Y 13-14 return cannot be filed beyond 31st March 2015. For A.Y 2012-13, consult Ca and clear your dues.

Vineet Goyal (Assistant Manager - Finance & Accounts) (702 Points)
Replied 16 March 2015

There is one more extra provision. You can check if this provision is appliable to you or not for AY 2012-13. If the following conditions are satisfied, you are not required to file your income tax return.

1. You taxable income is not more than INR 5,00,000

2. You have only interest income besides salary income.

3. You have declared your interest income to your employer.

4. Your employer has deducted TDS on your salary and interest income.

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