Hi Experts,
I know that it is not necessary to file return in current assesment year if income is below basic exemption limit (before considering any deduction)
but what if return was filed in previous assesment year(having income less than 250000 in that year too).
Will it be necessary to file this year too?
Kindly reply ASAP
Thank you
Not mandatory.... as per section 139(1); but always advisable to file ITR based on available income details. In case needed, it can be revised by year-end.
Sir
A person can not file his ITR1 for A.Y 2017-18 but he wants to file A.Y 2018-19, so what will be penalty for non filing of A.y. 2017-18
Its not correlated. If at all any query or proceeding be initiated for non-filling of ITR of AY 2017-18; it will not be because of ITR for AY 2018-19 has been filed.
If it was not applicable to file ITR u/s.139.... not filed; no penalty for that.
If it is applicable for current year, of if assessee wishes to file it; he is independent to act.
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