non fiiling
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 October 2010
i have received a notice under section 142(1)for non filling of income tax return of A.y.2008-09.i didnot have any income in that particular year.and in the last year i have computed my income under the head b/p.pls suggest whether it is mandatory to file the return as in this case i dint have the income more than the exemption limit.and whether penalty of 5000/- u/s 271f is attractable
15 October 2010
you have to prove the records that you did not have any income. you are doing business but you did not mention whether proprietor / Partnership Firm / Company. If you are individual (proprietor) business, then you can consider the exemption limit and explain to department. Otherwise you have the responsibility to file even less income.
Please wait for some other expert's point of view.
Please wait for some other expert's point of view.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- LIABILITY ADJUSTMENT
- Average Cost Of High Quality Diamonds
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
