Filing previous income tax returns

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Nashu U

3 Points Posted on 17 May 2024

Hi,

I was not very much educated on filing ITRs till I joined a corporate job 3 years back. It was on my current job that I started to understand and learn from others on importance of filing and its procedures. I have few issues with pending returns. Here is timeline of my work:

2010-2015: Student with stipend (Rs. 1,44,000 during first two years and Rs. 2,16,000 for next 3 years, all in annual payments). Not paid any taxes or filed ITR during this period.
2015-2018: Worked on occasional freelance gigs while I was working on a startup idea (total income earned during that period many have not crossed ~Rs. 6-7 lacs per year). Not paid any taxes or filed ITR during this period.
2018-2020: Worked as a project assistance for short-term contract with a govt. institute (Section 194JB). All advance taxes paid. Filing done for FY2018-19 but not for FY2019-20 and FY2020-21 (I was unemployed for most part due to a medical issue). Also, I got job before 10 Mar 2021 So have income listed under both Section 194JB and Section 192 just for one month, so I was confused which ITR form to fill.
2021-Present: Joined a corporate company (Section 192). All advance taxes were cut for FY2021-22, FY2022-23, FY2023-24. For some reason, I did start doing filing process for FY2021-22 for first time, but I could not find acknowledgement receipt when I checked recently. For FY2022-23, I took help of Clear Tax and got it filed. For FY2023-24, there is time to file.

Is it possible for me to file for me to file income tax returns up to FY2010-11? Only considerable income I see is during the period of 2015-2018, but then under Section 44 taxable income would be less than Rs. 3.5 lacs. If I consider tax slab during this period, my pending tax would be less than Rs. 30,000 for all three years. So pending taxes is low but for all other years, I have already paid the tax and is with government but IT returns were not filed.

I tried searching for it online many times and asked 2 chartered accountants in my local area, but they have not much to help on this.

Thank you very much.
Best regards,

Naran

Replies (6)

Quick Summary

This discussion covers the challenges of filing past income tax returns, with the original poster detailing a history of missed filings from student days through freelance work and short-term contracts. They are seeking guidance on whether it's possible to file returns for years where tax was paid but returns weren't submitted, and if there are penalties or limitations involved. Responses suggest that filing updated returns is possible for certain recent financial years, but older unfiled returns may not be possible to submit voluntarily.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212441 Points Posted on 17 May 2024

You can file updated return only for FY 2021-22, i.e for AY 2022-23, & next year (which you have already filed) provided you have any tax liability. For earlier years you cannot file any return now, unless any query received from ITD.

CA Raj Doshi

Practising CA

8954 Points Posted on 17 May 2024

Do the filing for FY 21-22 since the window to file is still open. Rest years, you will not be able to file voluntarily.

Nashu U

3 Points Posted on 18 May 2024

Thanks all you for your response.

With regards to FY 2021-22, I do not have any extra tax liability to pay. Tax has been deducted at source by my company already. Also, the income tax return is not filed. So, is it possible to file update returns?

Nikhil Kaushik

Fellow CA

86881 Points Posted on 18 May 2024

Originally posted by : Nashu U
	Thanks all you for your response. With regards to FY 2021-22, I do not have any extra tax liability to pay. Tax has been deducted at source by my company already. Also, the income tax return is not filed. So, is it possible to file update returns?