sir what will be happen if we not file itr with in a assessment year ? can we escape from penalty ?
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Income tax
Replies (2)
Hi,
Income Tax Department may issue a notice to file the same if they believes your income exceeds taxable limit and you were liable to file.
Penalty shall be applicable.
Thanks,
Shobhit
if your income exceeds taxable limit, then you must file your return otherwise dept. may take appropriate actions for recovery of taxes due.
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