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Radhanath Parida (Article Assistant)     25 January 2020

ITR not filed

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


 16 Replies

Roshni

Roshni (Studwnt)     25 January 2020

Atleast file preceding year return by 31/03/2020
1 Like
PRIYANKA GUPTA

PRIYANKA GUPTA (ASSISTANT)     25 January 2020

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

sabyasachi mukherjee   25 January 2020

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

Radhanath Parida (Article Assistant)     25 January 2020

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

CA SANDESH MAHIPAL (Practicing in GST and MSME )     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 Kiran Sutrave (CA)     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

Kapadia Pravin   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

RAJA P M ("Do the Right Thing...!!!")     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

sabyasachi mukherjee   27 January 2020

@ radhanath
file returns immediately...
Kapadia Pravin

Kapadia Pravin   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.
M.Keerthi chandra

M.Keerthi chandra (C.A FINAL STUDENT AND QUALIFIED C.M.A)     27 January 2020

While applying for condonation of delay, also submit computation along with form 16 or 26 AS

CA Kiran Sutrave

CA Kiran Sutrave (CA)     27 January 2020

How do you apply for condonation - online or offline?
M.Keerthi chandra

M.Keerthi chandra (C.A FINAL STUDENT AND QUALIFIED C.M.A)     27 January 2020

Condonation  application is not present Online at present. It should be addressed to Jurisdictional CIT.

RAJA P M

RAJA P M ("Do the Right Thing...!!!")     27 January 2020

Which condition can apply Condonation delay request for filling ITR...?

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