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in respect of filling return

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(Querist)
17 October 2008 respected sir, if i made contineous return of income for three year and after , i stop to make return for two year , is threre any penlty for starting a return after exit for two year, if i want to start to make return ?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
17 October 2008 No, if you have no tax liability during those years you have not filed.
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SANJAY VERMA

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SANJAY VERMA (Expert)
17 October 2008 You can file your return of A.Y 2007-2008 upto 31st march 2009.If there is any tax liability then a penalty of rs. 5000 can be imposed u/s 271f at the dicretion of the assessing officer.
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