I.t. returns filed previous years

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Kollipara Sundaraiah (Querist)
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08 March 2020 A individual person how many previous years income tax return filing at the end of the finicial year March,2020 for the purposes of bank loan.

Spurto Consultancy Services

Spurto Consultancy Services (Expert)
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08 March 2020 According to Section 139(1):

"Every person,—
(a) __________________; or

(b) __________________________________________,

shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed"

Further, According to Section 139(4) of the Income tax Act, 1961:
"Any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier."

Belated Income Tax Return can only be filed till the end of the relevant assessment year.
In your case for bank loan purpose, IT Return for the AY 2019-20(FY 18-19) can be filed till 31.03.2020 with late filing penalty. After 31.03.2020 you can file the IT Return for FY 19-20.
Thus IT Return can only be filed for 2 FY including the FY.