Nil return filling
This query is : Resolved
harsh jindal
(Querist)
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
(Expert)
02 November 2016
you can file for financial year 2014-15, 2015-16 before 31/03/2017
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harsh jindal
(Querist)
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
(Expert)
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.
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.
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