Income tax returns for previous fy

Tax queries 415 views 10 replies

Hi , 

Here is the situation. Appreciate some serious advice. No pranks please. 

I am an NRI. I have not filed income tax in India for FY 09-10. 10-11. 11-12. 12-13.13-14. 14-15. Main reason was my taxable income in India was never ( presumably ) more than the respective FY's mimum taxable income. 

However, Recently IT department has sent me reminding me to submit the taxes for 14-15 AY. I was confused with it and just went ahead and submitted the ITR1 for FY 14-15 It went well. However, later realized that it was AY than FY the department was referring to. Further investgation revealed that all of sudden various PF and super annuation from my companies back in 2002-2006 have deposited around 5Lacks in my account. All that amount and my FDs taxes are already TDS but it seems due to limit overrun department computer system has flagged me out. 

My questions -

1) how far I should and I can go back in time to be compliant. I owe no taxes ... I am sure about this because of TDS . 

2) I am trying to get the actual TDS from various parties but it will take some time. what happens in case of delays. I have already submitted my response on the IT site that return is under progress 

3) I am trying to register on TRACES website from outside India, but last 10 attempts have failed. I have also raised a helpdesk ticket with the IT department but it seems they look at it once in a while. I am trying to download 26AS form and thats the reason I need this login. Is there any alternative.. the current download / register / failure cycle seems not working and never ending. 

4) what is expert suggestion shall I handle this my self or do I need to go for paid online service ( but frankly speaking these including H&R block suck ) . Is there anyone out there who can help me for a fees?  this is for Pune MH India region by the way. 

Thanks for reading ... 

 

Raj

Replies (10)

Hi,

Form 26AS is available at income tax website, no need to register at traces for that. It will be available for AY 09-10 onwards. Figure out your total income for AY 14-15 & tax liability thereon considering the TDS as per Form 26AS. in case tax is payable, pay it with interest else not required. File your ITR for AY 14-15  online after payment of tax (if any).

Even if you owe no taxes bcoz of TDS . You need to file return to prove to the taxman that the tax liability is zero.  Only way you can prove a taxman that your tax liability is zero is to file income tax return. You can file IT return for AY 2014-15 and AY 2015-16 as belated return.  For 2013-14 and previous years - you can reply to notice by filing return online if it comes.

You have to submit form 10E for sec 89(1) for arrears of previous years. For this you need to have data of income tax return filed. 

Thanks. this helps. One quick input. As I am accessing the site ouside India , these site become pain in the neck. Its Reaaaaalllly hard to even complete a simple reigstration. Finally after 37 attempts I was registered successfully . I am all set and I am going to file the taxes. ( ITD has to pay me around 50K back :-) ) . 

Thanks. this helps. One quick input. As I am accessing the site ouside India , these site become pain in the neck. Its Reaaaaalllly hard to even complete a simple reigstration. Finally after 37 attempts I was registered successfully . I am all set and I am going to file the taxes. ( ITD has to pay me around 50K back :-) ) . 

Thanks S. Shiroor. So I just submitted my tax return for AY 15-16 with IT dept owing me 45K. I am submitting the AY 14-15 return tonight , per income tax calculator on the site they owe me around 50K. However, there is no way I can mark these returns as belated returns? do you know how can I do that? Also, for the previous years, do I need to be reactive than just proactively going ahead and submitting the returns... for those years as well I bet IT department owes me around 40-50K per year. It was just my negligence....

Could you please also elaborate on 10E for sec 89(1) for arrears .... thingy? I dont have any remote idea of what it is... 
 

Thanks for your response. 

I would suggest you hire a local chartered accountant to do these filings for you as any return prior to AY 2014-15 is anyways to be filed manually with Income-tax office alongwith condonation application in case you wish to claim refund of excess credit for those years.

You should select  139(4)   -in return filed under section.

Please contact Mr A M kulkarni  in pune  Mob no :- 9970504637 

 

Thanks Nikhil . However, I can still submit the AY 2014-2015 return online till 31st March 2016. More details here - https://articles.economictimes.indiatimes.com/2014-08-04/news/52428585_1_advance-tax-31-july-deadline-tax-form

 

Exactly, that is what I said.  For returns prior to AY 2014-15, you need to file manually.  Refer my earlier message.

Thanks S Shiroor. This helps. I did the same for AY 2014-2015. Now I am current for last two years. I will contact CAs in India for the rest of the historical AYs to clear the mess and get my money back :-) . 


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