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Is it Necessary to file last year AY 2019-20 Returns with penalty?
one of my employee forgot to file last year return. when tried to aling with year return. they have shown 10,000/- as late penalty. He already retired in May 2019. now is it necessary to file the returns with 10k penalty.? What happens if not filed as he already retired in may 2019.?
Replies (4)
Quick Summary
Pls furnish full information.
AY 2019-20 IT Returns was not filed. when we are trying to file the return now they are show 10000 as late penalty.
is it necessary to file the return with penalty now?
the employee has been already retired in may 2019.
is it necessary to file the return with penalty now?
the employee has been already retired in may 2019.
If the income of person exceeds basic exemption limit i.e. ₹250000 it is mandatory to file income tax return. So in your employee's case I assume that his income exceeds ₹250000 on the basis of your information about ₹10000 late fee, he is required to file ITR.
Yes, required to file A.Y 2019-20 return..
As you mentioned that Penalty of 10,000 shown..it means your Income is more than 5,00,000 in that Year..and TDS also deducted from Salary, you can take credit of TDS.
As you mentioned that Penalty of 10,000 shown..it means your Income is more than 5,00,000 in that Year..and TDS also deducted from Salary, you can take credit of TDS.
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