I have erroneously forgotten to file a personal tax return for the last 3 years and according to all the articles i've researched - my filing is now time barred.
Firstly - is that true. I dont have a tax liability - but would like to file it all anyway as I've made investments which I've sold in consequent years.
What is my recourse? What can be my next course of action. I'm not a tax avoider - but am ignorant on the local tax laws which I've been completely misguided upon in the past.
Thanks
You can file your return for assessment year 2011-2012 u/s 139(4) i.e belated return where interest on tax liability will be charged u/s 234 but no penalty as such. Returns for A.Y 2010-2011 & previous to that are time barred & may attract a penalty but penalty is not compulsary.
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