Return of one year back

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monika (Querist)
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07 December 2016 sir i have file it return of FY 2015-16 on date- 27/09/2016

now i want to file it return of FY 2014-15

can i file ?

VIPIN GUPTA

VIPIN GUPTA (Expert)
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07 December 2016 Sir Sec 139 Dealing with filing of income tax returns only talks of time limit within which itr has to be filed it does not prescribe the serial order. So there is no stopage in filing your income tax return for F.y 2014-15.

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monika

monika (Querist)
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08 December 2016 PLEASE REPLY MY ONE MORE QUERY ABOUT RULE 114 E

monika

monika (Querist)
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08 December 2016 9 [Furnishing of statement of financial transaction.
11. Receipt of cash payment exceeding two lakh rupees for sale, by any person, of goods or services of any nature (other than those specified at Sl. Nos. 1 to 10 of this rule, if any.)
Any person who is liable for audit under section 44AB of the Act.

please clear WILL applicable on each sale OR ON to the aggregate value of sales made during the year TO ONE PERSON?

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Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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21 July 2025 Regarding your first question:
Yes, you can file your Income Tax Return for FY 2014-15 now, even though you filed FY 2015-16 earlier. The Income Tax Act does not require returns to be filed in chronological order. You just need to file it within the prescribed time limit (which is usually 3 years from the end of the relevant assessment year for belated returns).

About your second question on Rule 114E(9) related to reporting financial transactions:

The rule says that a statement needs to be filed for receipt of cash payment exceeding Rs. 2 lakh for sale of goods or services by any person liable to audit under Section 44AB.

The critical point is whether the Rs. 2 lakh threshold applies per transaction or aggregate during the year to the same person.

Clarification:
The limit applies per transaction. So, if any single sale or service payment exceeds Rs. 2 lakh in cash to a single person, it must be reported, regardless of aggregate amount during the year.

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