LATE RETURN

Its better to file for the previous years too.

Check the penalty that will be levied if there was tax payable if any.

Because you'll need them for future reference, also the return has the date of incorporation..better to play safe.

You can not file return for the Asst. Year 2006 - 07.

You can file the return for the Assessment Year 2007 - 08 and 2008 - 09. For 2007 - 08 penalty may or may not arise, it depend on the processing of the return. But return of 2006 - 07 assessment year can not be file in any case.

Yes even I agree. You cannot file the return for the AY 2006-07. The return can be filed only in response to notice (if any received) from the department. As regards the other two years you still have time and you can file irrespective of whether the return for AY 2006-07 was filed or not.

Hi Friends,

No that not the case.Still you can file the return for the A.Y.2006-2007. If there is any tax liability then for that Asst. Yr. then you need to pay Interest on those tax liability as arising in various section. After that pay the penalty of Rs.5000/- which is as per the penaly section & file the return. Its good if you file the return by paying the necessary dues. As in future if you approach for any loan from bank then they ask for the 3 or 5 yrs. returns.So, it will be good enough if you file the return. friend don't be late file ASAP.

Rgsd,

Rachit.