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It filing for old years

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 March 2015 For FY 07-08, 08-09, 09-10, 10-11, 11-12 I have business income. A party from whom I purchase deducts TCS for me. After 80 C deductions, my tax payable is NIL. Is it mandatory for me to file income tax returns? Please help me urgently.

I know I cannot file returns now for old years. But what can be the consequences? Am I in any default?
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Amol S Joglekar

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Amol S Joglekar (Expert)
20 March 2015 Think prospectively. Forget past.
Whatever has happened has already happened. And nothing as such will happen so far as non filing of return is concerned.

Since your tax payable is also nil after 80C, no need to worry.

(If you want , you can write a separate letter to CBDT for issue of refund)
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