Folks I need to file my taxes for AY 2013-14 and was unable to do so until now due to unavoidable circumstances.
In my case I owe 17K in taxes including penalty and interest.
I am aware that eFiling for an assessment year more than 2 years old after its due date is not possible. Therefore I printed out the document ITR-1 Sahaj Individual tax return and filled it with all my income and tax details. But when I went to the local income tax office directly to file my document, they said that they cannot accept my filing as it it is more than 2 years old and income exceeds the late filing limit for AY 2013-14 (5 Lakhs).
I am informed that when I receive an IT notice asking me to pay for 2013-14 I should respond and do nothing until then. But I fear that my interest and penalty is likely to go up as I wait for the IT notice - whose date is not known.
What is the best recourse to pay the tax due and avoid additional penalties ? Can I file challan 280 even if IT dept does not accept my IT filing ? Does seeking condonement from IT Commissioner work ?
Please advise.
CAclubindia
