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IT Return

RONIT (CA CS BCOM) (194 Points)

17 May 2016

My client filed his IT Return last 7 years ago after that he didnt filed his return.
He dosnt have any challan or return copy of that
now he want to file his return
so how it can be possible ???

will he liable for any interest or penalty if he file his ruturn for 14-15 and 15-16

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4 Replies

CA Mehul Chudasama (Chartered Accountant) (618 Points)
Replied 17 May 2016

1) Last Year Return Copy Not Required. Just E fIling Your Return After Registering On E fIling of Income Tax Website

2) There Is Not Required To Pay Any Interest And Penalty. Interest Only Pay For FY 2014-15 If Your Tax on Total Income Exceed Basic Exemption Limit as Per Section 234A, 234B And 234C As Applicable

Vikas Gupta (Tax Executive) (530 Points)
Replied 17 May 2016

He can file his ITR even if he didn't file his ITR from so many years. If there was no taxability in between during these 7 years, you may easily reply to IT notice, if any raises by IT department. If there was taxability in between these 7 years, you should have adequate reasons to explain why he not filed his ITR returns if IT raises any notice.

No interest/penalty will be levied for filing return for 2014-15 and 2015-16 if there is no unpaid tax during the said years. However, if there is any unpaid tax liability during 2014-15 or 2015-16, interest u/s 234A, 234B and/or 234C may be levied.