Income tax return filling of past years

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This query is : Resolved

binal salot (Querist)

01 December 2012 DEAR ALL,

I WAN TO ASK THAT WHETHER IN THE CURRENT YEAR I CAN FILE INCOME TAX RETURN OF ANY ASSESSEE FROM THE A.Y.2003-04 WITH TAXABLE INCOME.

IS IT POSSIBLE TO FILE RETURN OF THE PAST YEAR WHICH IS ALMOST 10 YRS BACK WITH TAX PAYABLE INCOME?

THANKS IN ADVANCE
KINDLY ANSWER URGENTLY

Pankaj Gupta

Pankaj Gupta (Expert)

01 December 2012 As time limit of belated return has also been elapsed, therefore you cannot file return now.
However there is another procedure which is quite complex and lengthy.
# prepare paper return in duplicate for all the years.
# post the returns in the name of AO and CIT.
# when AO will receive the returns, it will form reasons to believe for him.
# And then AO will issue you notice u/s 148 and will ask you to file the returns for those years.
# Deposit the tax along with interest and file the return within the time specified in the notice.
# Write an application to CIT to waive the penalty for concealment of income.
# CIT is duty bound to waive the penalty as you have yourself disclosed your income and had cooperated in the proceeding.
# In this way you can file the return s.

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