Missed income tax return of last 4-5 yrs

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Chayan Agrawal (Querist)
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22 March 2014 Sir,
One of the Assessee in my office has not filled Income Tax Return for last 5 yrs . Last return Filled was for AY: 2006-07.

He want to Fill return for AY: 2012-13, 2013-14 before 31 March 2014.

Can he fill the Return for above period ?

If he fills, Is there any probability that he can attract Penalty in near future, for the period which he had not filled returns

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 March 2014 yes he can do for for AY 2012-13 and AY 2013-14. the last date for AY 2013-14 under 139(4) is 31 March 2015.

With regards to penalties while there wont be any penalty for AY 2013-14 if the return is filed on or before 31 March 2014.

However, for AY 2012-13, penalty under 271F and 276CC can be levied subject to safeguards provided therein.

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