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After due Date income tax filing

Souvick Samanta (8 Points)

07 December 2021

How to file previous year income tax returns after due date for business loan purposes

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5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160342 Points)
Replied 08 December 2021

UNDER NORMAL CONDITIONS, IT IS NOT POSSIBLE TO FILE PRECEDING YEARS ITR NOW ...

sabyasachi mukherjee (26073 Points)
Replied 08 December 2021

Income tax return are being filed for the following purposes:
1. income exceeding the maximum threshold of taxable income depending upon the nature of assesse.
2. tax liability is there.
3. It's compulsory depending on the nature of assesse.

Muhammed Ibrahim Badusha (64 Points)
Replied 08 December 2021

If you get any notice for non filing, you can file the same, other wise it is not possible

Jatin Mittal (CA) (38 Points)
Replied 08 December 2021

ITR can't be filed after due date for the respective financial year. For the purpose of business loan, last three year ITR is required in private banks, so it is difficult to get funding from Private banks.

Hence, you can try with government banks, but they require project report showing the future profits and may also ask for some other documents which are required to be submitted.

Tanuj Chandra Saxenaa (Company Secretary) (7070 Points)
Replied 12 December 2021

Not possible now itr for p/y will not be filed as the date expired
in case of any special circumstances like notice imposed for non filing you can file but now it is impossible