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Guest

Guest (Querist)

30 January 2010 if a person has been filing returns since (any no of years)..and if he doesnt file his return in this year or coming year...becoz he has not taxable income..(income does not exceed the exemtion limit)...he is individual....then it is ok with the dept...can he continue return filing in next year ,if he has taxable income...generally c.a's dont tell this to clients and they r not aware of this fact..and next then what happened to his capital a/c and bal sheet for that year in which he is not filling the return ...how the below exempted incone can adjust in capital a/c bal sheet....

CA Ashok Kumar Sahu

CA Ashok Kumar Sahu (Expert)
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24 February 2010 dear sumit,

That's not our fault, when client have not taxable income then they don't want to file ITR, when they come to taxable limit then make Ad jested Capital a/c & balance sheet with including previous years income no problem at all.

C.A.Javid Patel

C.A.Javid Patel (Expert)
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25 January 2011 Agree with C.A. Ashok Kumar or you can one thing you prepare the Balance Sheeet and Capital Account in the year in which you dont have taxable income and please dont file the return.

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