Hello All
There is a case wherein a person is owner of a propritory firm ( owner of shop ). He has filed return till year FY 09-10. After that due to his ill health and other shop related problems he has not filed any returns. Now he has given the said shop on rent and wants to file ITR.
What are the repercations if he files return for FY 17-18.
As such no need to worry, unless any high value trasaction performed by assessee or got reported to ITD by any agency.
Check Form 26AS, and decide. In case income during last two financial years exceeded BEL, better file ITR before this month end.
FILE INCOME TAX RETURN AS PER 26 AS AND PAY TAX ACCORDINGLY
LAST DATE 31-03-2018
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