Pending itr

ITR 920 views 10 replies

neilabcd

none

46 Points Joined February 2014

Hi Experts,

I am a salaried person and havent filed my returns since March 2010.

I have been paying TDS, however since i had switched companies, i got the Tax free slab (2.5L) twice. Due to this as per my calculation, i owe apprx 60K of Tax.

Now i understand that i can only file for the last 3 years. I want to pay off the pending tax and file for the last 3 years.

My Questions -

1 - Is there anywhr in the IT website where i can see the total amount i owe?

2 - in case i file my return, do u think i could get into any kind of trouble for the past?

3- My past Total income was calculated as, Total paid minus the regular 80C, medical reimbursement, car maintainence as per my old form 16.

So while paying can i consider these? or will the department ask me for those old proofs now?( i have all the form 16 only)

4 - Will ther be any penalty, if any how to handle

What should be my approach here, please advise. (numberwise as asked if possible)

Regards

Neil.

Replies (10)

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

first of all, you can file return for max two years from website, i.e. for FY 12-13 & 13-14 only.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

1. there is no option on the website that shows you such calculation. assessment of income can be made only from the return of income provided by you.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

2. as i told you, you can file return for two yrs only. for remaining years you need to contact your AO and request him to issue you a notice u/s 142(1)(i) and then you can file your return in response to such notice and you wont get into any trouble if you are truly declaring your income.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

3. deduction or calculation of perquisites based on past form 16 wont create any problem if you have been receiving same salary and benefits even after switching to diff. co. otherwise it has to be re-calculated based on the amt. paid and perquisite allowed for that financial year.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

4. you will be required to pay intt. on tax if any tax liability arises. apart from this the AO can charge a penalty of 5000 per year for not filing the return of income within due date for such financial years.

neilabcd

none

46 Points Joined February 2014

Ok.. now.. wht if i just file for last 2 yrs without looking at the pending amount.. i know tht u may say tht "they will find u" Howevr.. what if i wait for them to find me and thn pay whtevr fine... is that also a possibility?

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Joined September 2007

actually my answer would be a bit different. you can file 2yrs return and wait. the dept. shall not even bother you if tds has been deducted on your income. but this cant be said with surety, if dept. finds that return has been filed for earlier yrs and current yrs. but there is gap in the middle, they are bound to ques. you in this regard. now coming to the penalty portion, if any tax liab. arises over and above tds deducted then penalty can be min. 100% to max. 300% of such excess tax.

Somsuvra Mukherjee

Advocate

75 Points Joined July 2011

Originally posted by : neilabcd
	Hi Experts, I am a salaried person and havent filed my returns since March 2010. I have been paying TDS, however since i had switched companies, i got the Tax free slab (2.5L) twice. Due to this as per my calculation, i owe apprx 60K of Tax. Now i understand that i can only file for the last 3 years. I want to pay off the pending tax and file for the last 3 years. My Questions - 1 - Is there anywhr in the IT website where i can see the total amount i owe? 2 - in case i file my return, do u think i could get into any kind of trouble for the past? 3- My past Total income was calculated as, Total paid minus the regular 80C, medical reimbursement, car maintainence as per my old form 16. So while paying can i consider these? or will the department ask me for those old proofs now?( i have all the form 16 only) 4 - Will ther be any penalty, if any how to handle What should be my approach here, please advise. (numberwise as asked if possible) Regards Neil.

Dear neilabcd,

Dont try to play with the Income Tax Department and you have no idea that where you will land with ever ending trouble when it is TDS also. We have experienced a large number of cases where a small hinge has become such a big trouble for the assessee.You are a employed person and i believe that you cannot run everyday at the office of the IT Department.

So, in my opinion, better to consult with a lawyer/advocate, clear all the dues pending with the IT Department and live free.

We are Professionals including Lawyers/Advocates/Company Secretaries/Cost Accountants/Chartered Accountants.

For further consultation, you can contact us at 9804580240/9038434640

E-mail: mukherjee.somsuvra @ gmail.com

neilabcd

none

46 Points Joined February 2014

Update -

So i have filed returns for the current & the past 1 year and paid my tax dues with intrest.

Now i am left with 2 more form 16s ending Mar 2012, Mar 2011.

There is some tax due for 2011 as well as i had switched companies.

Due to time restriction, i cant file online for those years, however i am looking to clear the dues.

Now i need to know what should i do to file return for those 2 years?

as it will be paper filing with permission , i m guessing, can a CA/Lawyer do it on my behalf?

Need some refference from you experts in Bangalore North (Hebbal, Manyata Tech park Area)

neilabcd

none

46 Points Joined February 2014

Anyone from Bangalore?? Please help Me.. i am half way done, what can i really do now? please see my question -

Update - So i have filed returns for the current & the past 1 year and paid my tax dues with intrest. Now i am left with 2 more form 16s ending Mar 2012, Mar 2011. There is some tax due for 2011 as well as i had switched companies. Due to time restriction, i cant file online for those years, however i am looking to clear the dues. Now i need to know what should i do to file return for those 2 years? as it will be paper filing with permission , i m guessing, can a CA/Lawyer do it on my behalf? Need some refference from you experts in Bangalore North (Hebbal, Manyata Tech park Area)