Income tax return

Return 1590 views 13 replies
User Avatar

Accountant
38 Points Joined June 2017

can i file income tax return (individual ) for fy 2014-15, 2015-16, 2016-17. if yes

what will be the int & penalty for late filing.

plz suggest.

0 Reply Share Follow
On 24 July 2017 at 23:56 Report
Replies (13)
User Avatar

Accountant
62 Points Joined May 2012
yes you can file individual income tax return for F.Y. 2015-16 & 2016-17 in this f.y. up march 2018 but interest charged under section 234A,234B& 234C
Reply
On 25 July 2017 at 00:51
User Avatar

CA Practice
3577 Points Joined September 2012
You can file IT Return for FY 15-16 and 16-17. Interest for late filing applicable only if provisions of Section 234 A are attracted. Late fee of Rs. 5,000/- leviable under section 271 F for FY 15-16 for belated return filing. (Penalty is rarely levied though)
Reply
On 25 July 2017 at 00:55
User Avatar

Proprietor A K Kandpal & Associates
1442 Points Joined February 2010
no penelty or interest will be there if tax payable is 0......
Reply
On 25 July 2017 at 02:30
User Avatar

Proprietor
4869 Points Joined January 2010
no penalty or interest if 0 tax
Reply
On 25 July 2017 at 08:51
User Avatar

Senior Associate
4 Points Joined July 2017

HI,

 

I have received Communication u/s 143(1)(a) from IT department for

Addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total

income in the return-143(1)(a)(vi)

 

The form 16 deduction variance of 50K and hence Form 16-Taxable Total Income addition of 50K. As per teh instruction given I logged into ITR site and uner e-proceedings I accepted the income...

 

Could you please let m know if I still be getting refund or naythiong which I should have not done?

Thanks!!

Reply
On 25 July 2017 at 11:41
User Avatar

CA Practice
3577 Points Joined September 2012
Now that you have accepted the income as yours, the tax liability will increase and you won't get the refund.
Reply
On 25 July 2017 at 11:45
User Avatar

Proprietor A K Kandpal & Associates
1442 Points Joined February 2010
but even after accepting income if any refund is there then it should be refunded to you...
Reply
On 25 July 2017 at 11:48
User Avatar

Senior Associate
4 Points Joined July 2017

Thanks:) It helps..Just want to understand but the intimation say 50K difference in Form 16-deduction and 50K in Form 16-Taxable Total Income.

But when submitted through ITR portal it say incoe of 1L which is not correct right? The tax liability will be on 50K or 1L?

Reply
On 25 July 2017 at 16:32
User Avatar

Senior Accountant
31 Points Joined July 2017

Same Query Raised by IT Department,

as per e Porcedding Portal TAN No. Require , How It is Possible.???

 

Reply
On 25 July 2017 at 18:00
User Avatar

SA
26 Points Joined July 2017

I accepted as an income so no need to show TAN etc..am I right?TAN is only require if I would have disagreed.

My query is the tax liability will be on 1L or 50K

Reply
On 26 July 2017 at 10:54
User Avatar

SA
26 Points Joined July 2017

As per my ITR, I have some refund to get, will they make Deduiction from this refund?

Please help me..I have no clue on this communication

Reply
On 26 July 2017 at 11:39
User Avatar

2 Points Joined July 2017

After Accepting it as additional income, have you got any acknowledgement or mail regarding it?

Reply
On 27 July 2017 at 16:25
User Avatar

SA
26 Points Joined July 2017

Just acknowldegement Auto mail reply as Confirmation on submission of response to adjustments u/s 143(1)(a)

Reply
On 27 July 2017 at 19:37


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading