Non-filing of it return for 31.03.10

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 Due to some unavoidable reasons, I could not file my IT Return for the financial year ended 31.03.11. Rs. 35,000/- has been deducted by supplier as TCS from my a/c. Now, I have received a notice from IT Deptt. asking me to reason behind non-filing of IT Return (also mentioning TCS amount therein). What may be the consequences of for this non-filing of IT Return ?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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01 August 2013 Don't worry reply to the ITO with such unavoidable reason for non filing of income tax return for such year and file the return now u/s 142(1) then it is valid.

If such ITO is satisfied with such reason and you didn't have any tax payment due after adjustment of TCS then he may not levy any penalty for non filing of return of income. Otherwise penalty shall levy of Rs.5,000 + equal amount of tax payment liability if any(after adjustment of TCS) + any addition amount according to his satisfy.

OM SAI SRI SAI JAI JAI SAI

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