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IT Returns of previous years

CA. Bhabani , FCA, DISA, DIRM (Chartered Accountant) (205 Points)

13 June 2007

Will the IT Department accept Returns for AY 2005-06,2006-07 and 2007-08 at a time even if the income of th assessee does not exceed the maximum limit chargeable to tax in AY 2005-06 and 2006-07?

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2 Replies

(Guest)

Asst year 2005-2006 is time barred hence Department won't accept however Ast year 2006-2007 will be accepted upto 31.3.2008. regards Brahma

RUDRA DATT (practice) (78 Points)
Replied 16 June 2007

A NRI RELATIVE WANTS TO GIVE GIFT TO HIS INDIAN RELATIVE IN INDIA IN FOREX FROM OUTSIDE INDIA. WHAT DOCUMENT THE RESIDENT RELATIVE SHULD TAKE FROM NRI TO SHOW TO I.T.DEPTT . CAN A GIFT DEED ON INDIAN STAMP PAPER BE SENT TO HIM TO SIGN THE GIFT DEED IN FOREIGN. AS NRI IS OUT OF INDIA. PLS ADVISE WAT PROCEDURE SHOULD BE ADOPTED.