Engineer
44 Points
Joined February 2018
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 back to the salary head while filing itr for FY 2012-13?or the deduction claimed earlier should be included in current year?
Chartered Accountant
108 Points
Joined August 2013
First of all, i doubt filing ITR for FY 12 13 now , because the due dates are lapsed
but are you filing it towards a reply to notice of dept ??
Chartered Accountant
108 Points
Joined August 2013
First of all, i doubt filing ITR for FY 12 13 now , because the due dates are lapsed
but are you filing it towards a reply to notice of dept ??
Engineer
44 Points
Joined February 2018
PLEASE IGNORE OLD MESSAGE.there are some corrections.
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 by not accounting 80c deduction of LIC PREMIUM while filing itr for FY 2012-13?or the deduction claimed earlier should be included in salary head current year filing?
Engineer
44 Points
Joined February 2018
PLEASE IGNORE OLD MESSAGE.there are some corrections.
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 by not accounting 80c deduction of LIC PREMIUM while filing itr for FY 2012-13?or the deduction claimed earlier should be included in salary head current year filing?
Engineer
44 Points
Joined February 2018
PLEASE IGNORE OLD MESSAGE.there are some corrections.
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 by not accounting 80c deduction of LIC PREMIUM while filing itr for FY 2012-13?or the deduction claimed earlier should be included in salary head current year filing?
Engineer
44 Points
Joined February 2018
PLEASE IGNORE OLD MESSAGE.there are some corrections.
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 by not accounting 80c deduction of LIC PREMIUM while filing itr for FY 2012-13?or the deduction claimed earlier should be included in salary head current year filing?
Engineer
44 Points
Joined February 2018
PLEASE IGNORE OLD MESSAGE.there are some corrections.
just now came to know about deduction u/s 80 c reversal.as per income tax act, Deduction u/s 80C will be reversed if Life insurance policy lapsed before contributing for 2 years.how to deal in my case.I am yet to file IT for last 4 year.I have taken LIC policy in FY 2012-13 and claimed 80 c deduction for my lic premium for FY 2012-13.After this I have not paid any premium and policy lapsed.I am yet to file ITR for FY 2012-13.Can I reverse the deduction claimed in form 16 by not accounting 80c deduction of LIC PREMIUM while filing itr for FY 2012-13?or the deduction claimed earlier should be included in salary head current year filing?
Engineer
44 Points
Joined February 2018
I am going to file original return.I enquired through an auditor.He told that we can file for last 5 years.
Engineer
44 Points
Joined February 2018
I got notice for not filing for last 2 years only.
TDS Preparer
1464 Points
Joined September 2017
You can only file for last two years only unless you get any notices from IT department.
Engineer
44 Points
Joined February 2018
Thank you!.Is there any way to file for period more than last 2 years.since I have some refund for those.
Chartered Accountant
108 Points
Joined August 2013
Hi Manoj
I am unable to understand that how your auditor has guided for 5 years, may be he has reviewed your case , which I am not totally aware.
But as of now I can guide that, you can file return for those 2 years for which notice is received
and for Ay 1617 and 1718 by 31st march 2018.
Thanks
TDS Preparer
1464 Points
Joined September 2017
File a request for condonation by logging into your account. If your request is accepted you can file returns for previous years.