It returns not filed

630 views

Save Share

Join Us Follow Us Add as Source

neilabcd

none

37 Points Posted on 19 March 2014

Hi Experts,

i really need help from experienced members here.

Background -

I am a salaried person, working since the last 10 years. i have been paying my taxes through TDS, and filing returns which i did till 2010 March.

Then i switched job, and due to this, my tax bracket changed. So in 2011 march, when i calculated, i needed to pay around 30K taxes, and so i didnt file my returns.

Didnt file it in 2012 aswell.

In 2012 dec, i switched jobs again, and so i m sure there would have been additional tax added, and AGAIN, i didnt file my returns.

in all this while, i have been paying my taxes through TDS at my office.

I am in 30% tax bracket.

Questions -

1 - How much trouble am i in?

2 - How do i get out of this mess, before IT dept comes to me?

3 - How should i go about it? do i just need a CA to do the taxes, or will it be a good idea to get in touch with a lawyer.

4- Any dependable lawyers that you suggest in Bangalore?

Please experts, i need a very detailed answer, and i want to put things back in place from this year.

Regards

Replies (7)

Mihir

Wealth Manager

5358 Points Posted on 19 March 2014

This a job of a CA. If you want to get out of this mess, you will have to be willing to pay pending taxes. You may consult a good CA and give all your details, and he will compute the taxes payable, and also file your IT returns of the previous years.

CS Abhijeet soni Advocate

CS LLB MCOM MBA (FINANCE) MPHIL CA INTE

488 Points Posted on 19 March 2014

dont confused and worried ,

right direction asked by Mr.Mihir do this .

thanks

Manoj Mehta

Head Of Department (Accounts & Finance)

1272 Points Posted on 19 March 2014

Dear sir, pending taxes will always create problems to you so better it is to settle it. Mihir rightly suggested you to visit a c.a coz lots of work should be done in it. We have to check all year 26as of yours and file your return with interest on unpaid taxes. Also as you said you switched over jobs in between so we also have to check you form 16 issued to you as if what type of seduction have got and if they have given you tax slab benefits at each place etc. So i suggest you to approach a good practicing c.a in this month itself. Regards

Manoj Mehta

Head Of Department (Accounts & Finance)

1272 Points Posted on 19 March 2014

Please consider spelling errors as i am replying from my phone .... It is deduction ... Sorry for errors

neilabcd

none

37 Points Posted on 19 March 2014

thanks experts, will this also lead to a fine?, can the IT dept send a notice to me regarding, my transactions, or any such thing? does this involve any complications? in case any, will the tax consultant handle the same without a lawyer?

Manoj Mehta

Head Of Department (Accounts & Finance)

1272 Points Posted on 19 March 2014

Yes sir a c.a is a professional in this matters and not lawyers. You can get all your answers at one place. So please visit a c.a soon. Regards

garvit bharti

CA FINAL

250 Points Posted on 20 March 2014

Neilabcd: This case is that there may be outstanding taxes. Also itr not filed.so penalty can alsO b levied. Better to solve all these complexities asap. Consult a ca....its not a big mattr for him.