Could anyone assist me?
For the FY 2011-12, I have not filed return(itr 2) till date. The Income is non taxable. So can i file it now. Will any penalty be charged. IF the income is not taxable, still is it necessary to file return every year by 31 March.
In case if your Gross Income is below the exemption limit i.e before claiming any deuction u/s 80C you are not required to file income Tax return But if your income exceeds the exemption limit and after claiming the deduction it comes below the exemption limit you still required to file the income tax return because of gross income exceeds the exemption limit.
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