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Income Tax Return for FY 2018-2019 ( AY 2019-2020)

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Basua

34 Points Posted on 21 January 2021

Can Income Tax Return be filed for FY 2018-2019 ( AY 2019-2020) .ITR 1 required to be filed and tax liability is zero as all taxes are deducted by Employer u/s 192? In the event no Tax Return can be filed is fees u/s 234f to be paid voluntarily or after receipt of Notice.?

Replies (4)

Quick Summary

This discussion explores whether an Income Tax Return (ITR) can be filed for FY 2018-2019 (AY 2019-2020), even with zero tax liability due to employer deductions. It clarifies that an application under Section 119(2)(b) is generally for refund claims or loss carry-forwards and may not apply here. The consensus suggests that filing might not be mandatory if no refund is due and no losses are to be carried forward, and therefore, Section 234F fees might not be applicable unless a notice is received.

Kapadia Pravin

10683 Points Posted on 21 January 2021

Good to file return after taking approval under 119(2) and pay penalty @ time of return filing. This is mandatory to file ITR.

Basua

34 Points Posted on 21 January 2021

An application u/s 119(2)(b) can only be filed in 2 circumstances:-

Claiming of refund(s) for any relevant Assessment Year (AY); and

Claiming of carry forward of loss and set-off thereof for any relevant AY.

In the above case it does not fulfil the criteria as no refund due neither any c/f of losses...So, I guess application u/s 119(2) cannot be moved in the instant case.