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ITR not filed for last two years

Gopan (Technical) (35 Points)

05 July 2010

For last two financial years my salary comes under taxable range ie. 2.5L but after the deductions like insurance,PPF etc I wouldn't have to pay any tax as per Form 16 from my company. I also have PAN but not filed any ITR yet eventhough my salary is withing taxable range without deductions. So, is it compulsary to file ITR if salary is with in taxable limit but not taxable after deductions? If yes, can I file ITR a fresh from this FY only, or should sumbit the same for last two years also? Please help.

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7 Replies

CA Amit Kumar Shrivastava (CHARTERED ACCOUNTANT) (104 Points)
Replied 05 July 2010

Dear Gopan , Obligation to file ITR arises when,g. Total Income exceeds without considering any deduction , But u didn't file the ROI . whether after deductions u r not lible to pay Tax.

Now u can file return of current Yr- FY-09-10 and FY-08-09(upto 31.03.2011)

Gopan (Technical) (35 Points)
Replied 06 July 2010

Thanks. Can I file ITR for current FY onwards and skip previous years? If no, any fine for late filing for last two years?

Originally posted by : AMIT SHRIVASTAVA

Dear Gopan , Obligation to file ITR arises when,g. Total Income exceeds without considering any deduction , But u didn't file the ROI . whether after deductions u r not lible to pay Tax.

Now u can file return of current Yr- FY-09-10 and FY-08-09(upto 31.03.2011)

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 06 July 2010

Dear Gopan,

You are required to file returns for the previous years also, since ur income has exceeded the minimum taxable limit.

CA.G.Muguntha Narayanan (Internal Auditor at TVS Motors) (2195 Points)
Replied 06 July 2010

Dear Gopan,

penalty under section 271F shall be Rs.5000/- for one return

Priya Rao (student) (281 Points)
Replied 21 July 2010

I have income in INDIA from interest on bank NRO term Deposits. Last time I filed ITR was for the FY 2005-2006 (AY 2006-07). Can I file ITR from FY 2006-07 till date? (I just collected all my TDS certificates from the bank for the previsous years also).

Shudhanshu Agrawal (Business) (2570 Points)
Replied 21 July 2010

Originally posted by : Gopan
	For last two financial years my salary comes under taxable range ie. 2.5L but after the deductions like insurance,PPF etc I wouldn't have to pay any tax as per Form 16 from my company. I also have PAN but not filed any ITR yet eventhough my salary is withing taxable range without deductions. So, is it compulsary to file ITR if salary is with in taxable limit but not taxable after deductions? If yes, can I file ITR a fresh from this FY only, or should sumbit the same for last two years also? Please help.

As per Section 139(1) ITR should be filed if Gross Total Income exceeds Rs. 1,60,000. In your case if there is no tax liability then i will suggest you to start filing ITR now onwards. Moreover, penalty u/s 271F is not levied practically by Assessing Officer until and unless there is any tax liability

Akshay (Sr Eng) (21 Points)
Replied 21 November 2012

In AY 2011-12 i have worked for 2 company ,1st company send me the form 16 (for Gross income Rs.108017 and deductable amount 3900 )for 4 months, 2nd company send form 16 and shown HRA 7639 only for all 8 months instade of 96000 . The gross salary for 2nd company was Rs 297860 and total deductable amount including HRA 7639 was 74089),paid tax was RS.6568

I contacted to company who file itr for this company and submitted the pay slip and other documnets for rent proof for both company to file ITR.

That company did some calculation and asked me to pay 5590 through Direct tax challan and i paid that.

But that compay din't file ITR. i have to file ITR now , please let me know how to file ITR with updated HRA 96000 .

Thanks

Akshay

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