Nil return filling

This query is : Resolved

harsh jindal (Querist)
Follow

02 November 2016 i have got registered company 4 years back but didn't do any work in that company, but this year i want to file IT retutns, so for how many years back nil IT return i can file in this year and what will the penality for late filling..or should i file retrun of this year and just forgot about previous year ...will there be any consequences?

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

02 November 2016 you can file for financial year 2014-15, 2015-16 before 31/03/2017

Message likes : 1 times

harsh jindal

harsh jindal (Querist)
Follow

02 November 2016 please resolve all my queries written above about penalty and if don't file previous return and file only current year return , what will be its consequences

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

03 November 2016 01. Since it is NIL return, you may elect to file the returns prospectively.
02. The provision of charging penalty for late filing of income tax return is a very time old provision. However, the trend indicates that the said provision of charging penalty is NEVER used sparingly by the department. You need to take a CALL accordingly. There is no any MODEL answer to your question so far as penalty is concerned.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now