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Filing of return

nagarajan (Accountant) (191 Points)

20 August 2015

Dear sir

My friend has filed ITR 4 for the FY 2012-13 (Gross Income Rs.165,420) and Refund of Tax due is (Rs.16,542). Since, he had no income for the FY 2013-14, he did not file the return.

But for the FY 2014-15,he has a Gross income of Rs.150,400 and the refund due is Rs.15,040.

Is it necessary to file the IT Return for the FY 2013-14, now along with the Return for the FY 2014-15?

Pl. kindly clarify.

thanks

Nagarajan

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4 Replies

Rashi Bajaj (CA) (752 Points)
Replied 20 August 2015

Dear Nagarajan,

It is always adivsable to file your returns wherever there is any tax liability or refund due. Return for FY 2013-14 i.e. AY 2014-15 can be belatedly filed till the completion of one yeaqr from the end of relevant AY, i.e. till 31-03-2016.

Your are suggested to file both returns for AY 2014-15 and 2015-16. Just be extremely careful for AY 2014-15 return as it is non revisable.

All the best!

Rahul Verma (CA-Final) (484 Points)
Replied 20 August 2015

Dear Nagarjun

Since there was no any income in FY 2013-14, so it is not manadatory to file income tax return. but it is advisable to file the return although not having any income.

Also u can file income tax return of FY 2013-14 upto 31.03.2016 under section 139(4) as belated return. but you can not revise the same.

Rahul