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??
22 June 2015
just respond to the notice stating that income was below exempted limit...
22 June 2015
you can give the reply that your income is below taxable, not file return.
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