06 April 2020
Small Assess I.t. return filed f.y.2018-2019 for the purposes of bank loan . Doubt: Assess I.t. return filed every year(f.y.2019-2020 and next finicial years) compulsory or not.
07 April 2020
It is still advisable to file the ITR on regular basis. If returns are regularly filed the burdensome onus to prove the income below taxable limit reduces up to a great extent. The department issues notices to non-filers through e-mails. It is very difficult to keep track of department's e-mails which are expected within a period of 4/6 years from the end of the assessment year. Unresponded mails create more problem. Positive Aspect : Filing of regular returns inspires an assessee to earn more income.
CAclubindia
