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Income Tax Return Submission Query

Dhawal Vora (Self Employed) (64 Points)

12 February 2009

So I don't know if this is the right sub-forum to ask this question, but this is the best choice I thought so here is the question.

My grandfather age 86 hasn't filled his returns since F.Y. 2002-2003 (A.Y.2003-2004). I would like to go ahead and complete his returns up to date. Could anyone help me with the best possible option to do the same.

The reason I would like to do it is though he had paid up his advance taxes and TDS he doesn't come into the bracket where he has to pay tax. Instead he should be getting a refund.

For the past one year since I joined the business and got to konw all this, I have issued form 15 so that TDS doesn't get deducted.

From what I understand. I can without problems file returns for the past 2 financial years., but what about the previous ones.

Any Suggestions.

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3 Replies

Abhinav Agarwal (M.Com C.A SAP Consultant) (814 Points)
Replied 12 February 2009

Hi...First read below section:

Section 271F

PENALTY FOR FAILURE TO FURNISH RETURN OF INCOME.

If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139, fails to furnish such return before the end of the relevant assessment year, he shall be liable to pay, by way of penalty, a sum of one thousand rupees :

Provided that a person who is required to furnish a return of his income, as required by the proviso to sub-section (1) of section 139, fails to furnish such return on or before the due date, he shall be liable to pay, by way of penalty, a sum of five hundred rupees.

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as your grandfather is not liable to furnish ROI i.e below tax free amount, he will not be attracted by the above penalty. He can file ROI for previous years also as below taxable ROI. However make sure that they are not covered under Proviso to Sec 139(1) i.e 1/6 scheme(ommited by Finance bill 2008). If it is discovered later that he was covered and not filed ROI then you need to pay penalty as per above clause.

Dhawal Vora (Self Employed) (64 Points)
Replied 17 February 2009

Thank you very much. That was very helpful.

I have one more question, so I tried to prepare the balance sheets and found that I have around a lac of rupees as advance tax paid and tds deducted. He doesn't fall under the taxable bracket. Is it possible that I would get a refund of that amount?

CA CS VINAYAK PATIL (CHARTERED ACCOUNTANT) (921 Points)
Replied 20 February 2009

Originally posted by :Dhawal Vora
"	So I don't know if this is the right sub-forum to ask this question, but this is the best choice I thought so here is the question. My grandfather age 86 hasn't filled his returns since F.Y. 2002-2003 (A.Y.2003-2004). I would like to go ahead and complete his returns up to date. Could anyone help me with the best possible option to do the same. The reason I would like to do it is though he had paid up his advance taxes and TDS he doesn't come into the bracket where he has to pay tax. Instead he should be getting a refund. For the past one year since I joined the business and got to konw all this, I have issued form 15 so that TDS doesn't get deducted. From what I understand. I can without problems file returns for the past 2 financial years., but what about the previous ones. Any Suggestions.	"