suppose the wife doest have pan no means.int on FD is treated as income of husband under the haed income from other sourses.
suppose the wife doest have pan no means.int on FD is treated as income of husband under the haed income from other sourses.
Dear Nitin Grover
what are the implications if we did not file the return while according to act we need to do so
Nitin Bansal
Dear Nitin Bansal
if its required to file the return and we dont file it then the assessing officer can send also show cause notice and demand for return and tax with penalty and if their is no tax then no penalty
one more imp thing is that if u dont file return and no tax is here but need to file than after ending the assessement year upto the next assessment year u can file their is Fine of Rs. 5000\- rs which can be imposed by assessing officer.
For eg. P.Year 2008-09 Ass. Year 2009-10
Due date of filling July 31, 2009
then with penalty on Tax upto March 31, 2010
after or on April 01, 2010 - March 31, 2011 u can also file the return then u have to pay tax+int on it + Penalty u/s 139 which can be imposed upto Rs. 5000/-
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