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Itr fy 2014-15

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 January 2017 Hi Everyone,

My friend did not file his income tax return for the FY 2014-15. Now he wants to file it. Total tax liability is zero.

Please confirm if there is any penalty or interest which needs to pay before filling the return.

Thanks,

V kumar
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
23 January 2017 Penalty may charge upto Rs.5000 will be charged U/s 271F for belated return. Since tax liability nil no interest will be charged.
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Anand

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Anand (Expert)
23 January 2017 There is no penalty or interest to be charged BEFORE filing the return.
in the event a penalty is levied, you will be served with a order requiring you to pay the amount. This eventuality is very rare, more so in a case where there is no tax liability.
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