Non filing of itr

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This query is : Resolved

Lalit kundalia (Querist)

16 May 2012 Mr. x my client did not file his itr from last 3 years. he is in an transport business (individual). what sections of income tax will he attract. he want to submit his pending itrs now. what amount of penalty and interest can be imposed if his net profit for last 3yrs was 9 lakhs and t/o 3 crore each year. he deducted tds rightly. please advice.

Amol S Joglekar

Amol S Joglekar (Expert)

17 May 2012 Has he received any notice from Income Tax? If no... then file the return for Financial Year 2010-11 and 2011-12. You need to file this electronically. For FY 2009-10, you have to take a call in consultation with the assessee Mr.X.

Lalit kundalia

Lalit kundalia (Querist)

17 May 2012 THANKS.....NO HE HAVNT RECD ANY NOTICE SO FAR.....!!!

CA Mayank Chopra

CA Mayank Chopra (Expert)

18 May 2012 Dear Lalit

Mr.Amol is right.

For 2011-12 : Mr.X can file ITR (Original return) by 31st July 2012. Related sec 139(1).

For 2010-11 : You can file the belated return (& not original return) by 31st March 2013 along with interest & penalty of Rs.5000. Related sec 139(4) & 271 F.

For 2009-10 : The last date of filing belated return has gone now which was 31st March 2012. so Mr.X cannot file the return for 2009-10 now.

As you have mentioned that Mr.X has not received any notice, in that case no need to worry till the time deptt sends any notice.

CA Mayank Chopra
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Lalit kundalia

Lalit kundalia (Querist)

19 May 2012 he has also not submitted for 2008-09.
is there any way out how he can file his 2008-09 & 09-10 returns?
what are the procedures?

CA Mayank Chopra

CA Mayank Chopra (Expert)

20 May 2012 for 2008-09 & 2009-10, one cannot submit now as due date has been passed now. if in case u get a notice from depptt then only u can submit return otherwise one cant.

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