Can i file itr for fy 2014-15 now?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 November 2016 Can i file itr for the FY 2014-15 now for person who does not have proper books,documents or evidence of source of income (for e.g.auto rickshaw driver,snacks stall)?As now a days issue of demonetizaton of 500/100 denomination notes has resuulted in penalty from income tax department of 200%,a normal genuine person if can't prove source will suffer.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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19 November 2016 You can file ITR for FY 2014-15 now as belated return.

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2016 but my query is about consequences for filling return for person who does not have proper evidence,documents,books for sources of income.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 November 2016 Penalty will be levied for old cash deposit(500 and 1000 notes) without source of income exceeding 2.50 lacs.

Querist : Anonymous

Querist : Anonymous (Querist)

21 November 2016 thank you sir,so it means this penalty is relating to amount deposited in bank and not to income.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 November 2016 Yes you are right...............................

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Querist : Anonymous

Querist : Anonymous (Querist)