Failed to file for 5years

^ is dere any tax liability on u?

No .

yes u can file the returns...

IF DONT HAVE TAX LIABLITY THEN NO NEED TO FILE RETURNS AND THEY WILL NOT ACCEPT NIL RETURNS..,,AND YOU CAN FILE FOR 2 YEARS, CANT FILE FOR 5YEARS..THEY WILL ACCEPT FY2007-08 AND 2008-09.....

 balu is right

yes Mr. Balasubramaniya is rite !

but i doubt will they accept return  for assessment yr - 2007-08 now coz the date of filing late returns of assessment year 2008-09 was 31 mar 09 !

plz clarify this doubt!

THEY WILL TAKE FY 2007-08 AND FY 2008-09,,,,, THEY WILL NOT ACCPT AY 2007-08 ONLY 2 YEARS RETURNS THEY WILL ACCEPT...

Mr. Parbhakar,

You can file the return of FY 2007-2008,and FY 2008-2009 as Mr. Balu has told you. But for filing return of Financial year 2007-2008 you have to pay a penalty of Rs. 5000 under Sction 271 F of the income Tax Act, 1961 as the last date of filing return for FY 2007-2008 was 31st MArch 2009.

Hope you will find this information useful.

Regards,

Vijay Kumar

mr bala they'll accept for FY 2008-09 no doubt about it coz it is due in july 2009 !

YA I KNOW BUT TOLD, THEY WILL ACCEPT 2 YEARS RETURNS, NOW THEY WILL ACCEPT FY 2007-08 AND 2008-09 STILL MARC 2010..NEXT THEY WILL TAKE FY 2008-09 AND 2009-10 LIKE THAT EVERY TIME 2 YEARS RETURNS THEY WILL ACCEPT...

HELLO

VIJAY

THERE IS KNOW PENALTY FOR FY2007-08, THEY WILL ACCEPT 2 YEARS RETURNS.BUT FOR AY 2007-08 YOU HAVE TO PAY PENALTY....

An assessee who is required to file a Return of Income for a Assessment Year under the provisions of Income Tax Act, if fails to do so till One Year from the end of the relevant Assessment Year, he shall be liable to a fixed penalty of Rs. 5,000/- being imposed by the Assessing Officer.That's mean u can file last 3 year's IT Reurn.It may or may nor be possible Rs. 5000/- panelty imposed on you by Assessing officer.

Hi Rupesh

I wish to know under what section can an individual file last 3 years return.As per my knowledge U/s 139(4) if a person fails to file return on or before the due date specified in sec 139(1) he can do so at any time before the expiry of 1 year from the end of the relevant assessment year so as per my cal culations one can at most file return for 2years ie the current Assessment year and previous AY

      Please clarify

Hi,Pranav i mean to say  we can file IT return for more than two year by paying panelty Rs.5000/- each year.

My dear Rupesh an individual cannot suo motu pay penalty to be eligible to file return.Its the AO who may levy the penalty for not filing return.Penalty never grants right to file a return unless and until a notice is served upon the individual U/S142(1).