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ITR not filed

Radhanath Parida (Article Assistant) (149 Points)

25 January 2020

I have not filed my ITR for last two years. What should I do ??
Is there any penalty consequences ?

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16 Replies

Roshni (Studwnt) (1141 Points)
Replied 25 January 2020

Atleast file preceding year return by 31/03/2020

1 Like

PRIYANKA GUPTA (ASSISTANT) (154 Points)
Replied 25 January 2020

Yes you can file return for the financial year 2018 - 2019 upto 31/03/2020

1 Like

sabyasachi mukherjee (26047 Points)
Replied 25 January 2020

What's your age?
source of income.
does it exceed max. amount not chargeable to tax.

1 Like

Radhanath Parida (Article Assistant) (149 Points)
Replied 25 January 2020

@ Sabyasachi Mukherejee
Age 33
Yes, Salay income exceeds the basic exemption limit.

CA SANDESH MAHIPAL (Practicing in GST and MSME ) (1985 Points)
Replied 25 January 2020

Dear Radhanath Ji,
As other experts have suggested, its better if you file return for AY 2019-20 before 31/03/2020 and for earlier year, since you are a salaried person, TDS would have been deducted by employer. So just keep your Form 16 and 26AS printout with you for future reference.
Regards

1 Like

CA Kiran Sutrave (CA) (428 Points)
Replied 25 January 2020

File your tax return for FY 2018-19 (AY 2019-20). Since the tax return for FY 2017-18 (AY 2018-19) is not filed, the tax department may levy a penalty for non-filing of tax return of Rs. 10,000 (Section 234F of the Income-tax act, 1961)

1 Like

Kapadia Pravin (17249 Points)
Replied 26 January 2020

You can straight way file FY 2018-2019 ITR upto 31-3-2020 with late fee under 234F

For FY 2017-2018, you may have to first go for approval under 119(2)(b) for Condonation of delay.

RAJA P M ("Do the Right Thing...!!!") (127142 Points)
Replied 26 January 2020

@ Mr Radhanath Parida.,

( Salay income exceeds the basic exemption limit )

If Your salary exceeding BEL then Better to File ITR AY 19-20...

For AY 18-19 : If You want to claim any refund then try to file Condonation delay request. After acceptance of request then You can file ITR for AY 18-19. Otherwise no way for filling ITR for AY 18-19...

sabyasachi mukherjee (26047 Points)
Replied 27 January 2020

@ radhanath
file returns immediately...

Kapadia Pravin (17249 Points)
Replied 27 January 2020

You can file AY 2019-2020 ITR with late fee now itself .

Filing of ITR for AY 2018-2019 is an independent issue. You may file if Condonation approval given by Jurisdictional CIT or may not if Condonation rejected.