Filling of last 15 years income tax returns

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CA Sweta (Querist)
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25 July 2013 Whether assessee can file last 15 years Income tax returns now.Most of these returns are taxable.Whether assessing officer has power to accept these last 15 years returns?Guide about the penalty procedure.Assessee is ready to pay interest u/s 234A,234B,234C

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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25 July 2013 You cannot file 15 years income tax return now. only can be filed AY-2012-13 as belated return and AY-2013-14 as normal return. all other returns are time barred, you cannot file

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 September 2013 Yes you can file physical returns not exceeding 10 years and on payment of full tax. After that you will get a notice u/s 148 for regularization of the same. Accordingly any short fall of tax shall be recovered and interest shall be charged but assessment shall be completed.

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