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Return filing

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Querist : Anonymous

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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??
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
22 June 2015 just respond to the notice stating that income was below exempted limit...
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Rupesh Jain

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Rupesh Jain (Expert)
22 June 2015 you can give the reply that your income is below taxable, not file return.
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