Insovent and penalty proped
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 March 2014
respected sir,
one of my client scored 2 crores turnover during fy 2012-13. unfortunately he sustained loss and become bankrupty.honourble court declared him as insolvent.now receiver oppointed by court is in charge of his assets&liabilities.
now he got notice from incometax department for not filing return under sec 44ab for ay 2013-14 proposing him to levy penalty amounting to rs 1 lak.
i requet you for suggestions.thanking you
one of my client scored 2 crores turnover during fy 2012-13. unfortunately he sustained loss and become bankrupty.honourble court declared him as insolvent.now receiver oppointed by court is in charge of his assets&liabilities.
now he got notice from incometax department for not filing return under sec 44ab for ay 2013-14 proposing him to levy penalty amounting to rs 1 lak.
i requet you for suggestions.thanking you
Rupesh Jain
(Expert)
31 March 2014
r/sir
your client have to file income tax return .
bankrupty is different from income tax act.
your client have to file income tax return .
bankrupty is different from income tax act.
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