ITR FOR FY2020-21 (AY2021-22)

ITR Filing 806 views 15 replies

gk

service

156 Points Posted on 26 June 2022

Respected Peers,

Good Afternoon!

I have not been filed the ITR for the FY2020-21 (i.e.AY 2021-22) so far. It should be filed on or before 31-03-2022, I understand but I could not.

I have approximately 3.2 lacs rupees tax from long term cap gain (approximately 17 lacs gain I got) and from equity trades/investments, I have 4.64 lacs profit from long term, 3.09 lacs from shorterm, 14 thousands from intraday/speculative gains.

So tatal 11.07 lacs from capital gains (property/shares).

And other than the above, I am getting 36 thousands/anum (3000 per month) from an insurance pension plan and 25 thousands/anum interest from NCD (private Financ co).

Now what sort of Penalty/Fine I should paid to IT other than the Tax for the above 11.07 lacs (+ 61 thosands) and what sort of documents I should submit for this late (too late) ITR filing.

And whether this late filing will make any sort of problem for the next year submission ( I mean FY2021-22, AY2022-23). Please advise me.

Thanking you,

Regards

Replies (15)

Pavan

Owner

134 Points Posted on 26 June 2022

Contact some CA for this type of issues, i will drop you contact number of CA

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 26 June 2022

@ gk,

You may get a notice from IT Dept and file ITR in response to notice

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 26 June 2022

There is possibility of issuing 148 Notice.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 27 June 2022

@ Gk ,

You may also visit IT Dept and get approval for condonation of delay

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 27 June 2022

If there is no refund you can't apply for condonation, but there is one prevention you can follow

anu1973b@gmail.com

164 Points Posted on 27 June 2022

Sir ITR U

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 27 June 2022

It's not available yet

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 28 June 2022

ITR-U nit updated till date

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 28 June 2022

@ gk,

At this moment only option is to visit the IT Dept

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 28 June 2022

New reply without any base. Stop confusing and misguiding querist for some points.

Never ever go to department. It will create more problems for you.

gk

service

156 Points Posted on 29 June 2022

Dear Sir,

I have been received a notification on 29-March-2022, with title as: e-Campaign - Non-filing of Income Tax Return for AY 2021-22 DIN: INSIGHT/CMP/02/2021-22/xxxx indicating that:

Why are you receiving this communication?

The Income Tax Department has received information on financial transactions/activities relating to XXXXXX for Financial Year 2020-21. However, as per records available, you do not appear to have filed Income Tax Return for Assessment Year 2021-22 (relating to FY 2020-21).
Some significant information available with the Income Tax Department includes the following:

* Dividend 13000.00

* Interest from Savings Bank 10000.00

* Purchase of Securities & mutual funds : 20.2 lacs

* Sale of securities & mutual funds : 25.1 lacs

The objective of this campaign is to validate above information and promote voluntary compliance.

Dividend - Rs 13,229

Interest from savings bank - Rs 10,675

Purchase of securities and units of mutual funds - Rs 20,02,872

Sale of securities and units of mutual fund - Rs 25,06,831

and mentioned the next steps as login, compliance portal and give response as per requirement etc.

I have checked in compliance portal (after login to IT)

and noticed the following info :

E-campaign List:

A link provided under DIN: INSIGHT/02/2021-22/ FOLLOWED WITH A ref.no. and also provided the info as below:

Type Non-filing of return for AY 2021-22 issued on 28-March-2022 and Status : Pending (in red color font) -

shows a link to: (Provide Response)

Feedback on information on AIS - Pending (in red color font) - Note:The information on which the feedback is required is marked as "Expected", in the AIS view. Please click "provide feedback in AIS" to navigate to AIS and provide feedback.

shows a link to: (Provide feedback in AIS)

I have not received further any notification (including 148) after the above one received on 28-03-2022 other than a reminder email indicating about the last date of ITR is on 31-03-2022.

So what should I do with the above? whether I could provide responses for those queries with the guides/assist of a CA person or I should do something else with IT dept?

Please advise.