DHEERAJ SHARMA (Article Assistant) (26 Points)
29 August 2012I have a Client who missed to File his Return of Income For AY 2009-10, However the Return for NIL income is to be filed.
Since the time period for filing Belated Return U/s 139(4) is also passed. Is there any other remedy available.??
Also the income tax efiling site is showing that still Returns for AY 2009-10 can be uploaded.
Kindly Suggest....
CA C.JANANI
(partner)
(270 Points)
Replied 29 August 2012
gbalakrishnan
(owner)
(1373 Points)
Replied 29 August 2012
when you have NIL return, i think no need to file. if you get a notice from AO, then you can produce your nil income to AO concerned, that should be alright. Else unnecessarily you load unnecessary work on AOs. You cannot be proceeded against under any penalty provisions of IT Act 1961, if moved or issued, you can move CAT(A). such things are not going to take place at all. AO is to collect revenue on necessary income which fall under the provisions of Income which can be taxable and certainly not on NIl income friend.
DHEERAJ SHARMA
(Article Assistant)
(26 Points)
Replied 29 August 2012
Dear Gbalakrishnan Sir,
Thank for the revert, Actually the client need to submit last Five Returns for some business proposal. and he got skipped with the Return for AY 2009-10. After considering all tax savings and exemption the Tax computation comes to NIl, Since it is the case in Which SLAB rate increased very High from Last year (so it was a saviour as well)
Thats why we need to file the Return now..
Nemiraj Gathani
(CA Final)
(169 Points)
Replied 29 August 2012
aditya pal
(indore)
(2 Points)
Replied 18 December 2017
CAclubindia
