Return filing
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 June 2015
Hi,
I have received a notice from IT department to file return for FY 9-10, 10-11, 11-12. In 9-10 and 10-11 income is below taxable limit and income is from FD interest and share only so why should I file return in this case?? because now if I will file return there will be penalty around 5000.
In 11-12 I started a new business my revenue is around 20lakh but net profit is below taxable limit so what should I do in this case??
I have received a notice from IT department to file return for FY 9-10, 10-11, 11-12. In 9-10 and 10-11 income is below taxable limit and income is from FD interest and share only so why should I file return in this case?? because now if I will file return there will be penalty around 5000.
In 11-12 I started a new business my revenue is around 20lakh but net profit is below taxable limit so what should I do in this case??
Nikhil Kaushik
(Expert)
22 June 2015
just respond to the notice stating that income was below exempted limit...
Rupesh Jain
(Expert)
22 June 2015
you can give the reply that your income is below taxable, not file return.
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
- GST on reimbursement of expenses
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
