Itr v reciept

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CA Romil Shah (Querist)
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05 September 2012 I have filed a nil return but I have not send the itr v..actually after filing return my client told me not to file return so is it ok not send itr v....if I don't send itr v does it mean that I have not filed return...plz reply urgently....

Amol S Joglekar

Amol S Joglekar (Expert)
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05 September 2012 yes, if you do not send the ITR V within 120 days, the return shall be deemed to be never have been filed. Basically try to understand, this provision is for the benefits of income tax department. You want to use the same for your benefit. Make your client alert about this. Risk could be.... you will get mail from CPC of not filing the ITR V.... and so on.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
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05 September 2012 Thats True If You dont Send ITR V Then Deemed to be Not Filled.

But What I Suggest You is Send That ITR V.& File Return,.
It Will Be Always Beneficial For You

CA Romil Shah

CA Romil Shah (Querist)
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05 September 2012 But the return was nil return so why should I worry....since the client was not liable to file return as his income was below 180000
....

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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05 September 2012 Romil shah,

There are numerous benefits in filing the tax return even if there is a nil tax payable.

Authorities in banks ask for copy of the previous year's IT returns to examine your financial status.

Visa authorities sometimes require that you apply for visa along with the copies of ITR.

Given that filing the ITR is already over, why dont you just send the ITR V since you are already done with the tough part?

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