Delayed filing of income tax return

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

04 September 2016 Hello,

Can Income tax return for FY 2013-14 (AY 2014-15) , FY 2014-15 (AY 2015-16) & FY 2015-16 (AY 2016-17) be filed online now. As due date is already over.

Assessee is having Taxable Income below exempt limits for respective years. Will there be any penalty etc for delay

Thanks in advance

Unnikrishnan B

Unnikrishnan B (Expert)
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04 September 2016 Why are you worrying about it if the taxable income us less than the limit.income tax would not harass you if you are straight forward.I will tell you one incident
One of our customer received a letter from income tax authority as his cash deposit exceeded Rs10 lakhs on a FY
When the assesse went to income tax office the department were cordial with him
And department said it is only a usual letter and allowed him to go
Income tax has a method of collecting the information this is through annual information return and automated data flow and if you are straight forward income tax authority would understand it

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Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2016 Dear Sir,

Thanks a lot.. But to be on safer side Assessee intends to file returns stating all his income as actual liablity is "Nil" for all these years

please guide whether it is possible to file return for any of these years

Thanking you again

Expert : Anonymous

Expert : Anonymous (Expert)

05 September 2016 Dear user, Being a safer side u should file your return and still u can file return for AY 2015-16 and 2016-17 Hope your query is resolved

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