Itr filing

Hai Gowtham,

1)If you have not filed ITR a Notice may be issued u/s142(1) if department feels it fit.Further if  you not responded to notice and not filed Income Tax return you may be penalised & If you do not file ITR and there is assessble Income then it may be treated as concealment of income you may be reuired to pay  penalty of 100% to 300%.

2) If you want to file ITR you can now file your ITR as Belated Return before 31st March 2018.

3) Confirm with your Payroll Team after that you are required to take a call to file ITR or else you may ended by paying penalty.

Thank you srikar ji, appreciate your answer. i will file ITR then, dont want to tangle myself in penalty.