ITR for as 12-13

Dear All,

Request you to provide the feedback on below mention points.

- Is it possible to file tax return for Assessment Year 12-13 Now. My employer has already deducted the tax as per form 16.

- For Assessment Year 13-14, I have shifted out of India on 12-Aug-2012 for employment purpose. Is my income earn during first 3 month of FY is taxable. If yes is it possible to file the return for the same NOW.

 

Thanks

Deepak Kumar

Replies (4)

Q1: You can file IT return for Ay 2012-13(FY 2011-12) till March 2014 (penalty Rs 5000/- might be imposed)

Q2: Salary earned in India is always taxable in India notwithstanding residential status of the taxpayer. But since you have stayed in India only for 134 days, your foreign income will not be taxed in India as you are a non resident for AY 2013-14.

You can file IT return for salary earned in India for Ay 2013-14 (Fy 2012-13) till March 2014 with interest.

Thanks Madhavi for your response. -With respect ITR for fy 11-12, can I file return online or I have to visit income tax office. Secondly fine amount will be communicated to me by IT department or I should simply pay it off. -Since my income fy 12-13 is falling under zero tax liability bracket. Still interest will be imposed. Thanks Deepak

 

Q1.

You can file IT return for AY 2012-13(FY 2011-12) till March 2014  No Penalty will be Imposed till Mrarch 2014 as the required taxes to be paid are deducted by way of TDS.

 

 Q2:

Salary earned in India is always taxable in India notwithstanding residential status of the taxpayer.

But since you have stayed in India only for 134 days, your foreign income will not be taxed in India as you are a non resident for AY 2013-14.

You can file IT return for salary earned in India for Ay 2013-14 (Fy 2012-13) till March 2015 with interest tax not paid till 31st March 2014 or No interest or penalty will be levied if TDS has been Deducted.

 

( The residential status of a person leaving India will be determined us under:

If a person leaves India for the purpose of employment, business or for any other purpose that indicates his intention to stay outside India for an uncertain period; then he becomes a non resident from the day he leaves India for such purpose.)

With respect to ITR for fy 11-12, you can file return online. Penalty amount, if any,will be communicated to you by IT department, so don't pay it.

If your income fy 12-13 is falling under zero tax liability bracket, there will be no tax payable and no interest will not be levied. Still, it is advisable that you file the return.
 

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