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AV 2009-2010 Below Taxable Income

ITR Filing 620 views 1 replies

Aditya Parakh

Self Employed

41 Points Posted on 11 April 2011

HI ,

I havent yet filled the IT return for the AV Year 2009-2010.
I did not have any income , apart from a little interest on my savings bank account which was only around a few hundered rupees.

So is it required to file the return now.
If so , is it possible and are there any penalties.

Will it be an issue to skip this and continue with 2010-2011 return not maintaining continuity.

I would like to get things in order now.

Thanks for your support

Replies (1)

Shriram Ramachandran

IPCC Student CWA Inter & Processing off

492 Points Posted on 11 April 2011

Hi Aditya Parakh

It is better tat if u file return for 2009-10 also, even though u dont have any income. As ur Self employed u make take Bank loan for ur business. When u go for taking Bank Laon the Banker will ask for 3 Yrs IT Return. so it is better tat if u file NIL Return now.

Thanks

R Shriram