Income tax query

Manual returns can be resorted to by trying other means.

Make a requisition to the officer to issue notice u/s 142(1) or u/s 148 and file the return accordingly. Since there is genuine intension of disclosure of income and to pay the taxes, the case will be accepted by the AO.

May also not initiate the penalty proceedings.

File 2 years NIl Return and apply to CIT for immunity from penalty on the basis of avoiding genuine hardship. But mind one thing, When you are filing application for immunity to CIT on the basis of no operation, then you shoud not have any income also.

Agree with Goutam Sharma. The best option would be to file 'Nil' ROI of 2 years and then apply to CIT for immunity from penal provisions. If the company does not have any income, has no demand outstanding, has no proceedings pending against it and have filed the Return giving full and true disclosures, the CIT may allow immunity from penal proceedings on the basis of no operations of the said company. Do check the Form 26AS by logging into the Income Tax E-Filing website for any income in the said 5 PY where the returns have not been filed.

Thanks a lot of All of you for your valuable reply.