My question is if a person(Salaried Employee) has not submitted his return of income for the AY 2007-08 & 2008-09 as no income tax is due but his employer has deducted the TDS on the same........ may be bcox he hadnt submitted docs as proof for eligible deductions.
So now can he submit his returns for getting the refund of tax and whether he is liable to penalty or not
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TDS Deduction n return not submitted
Replies (2)
Dear Vivek, Yes he can do so but he shall be charged with the Penalty of Rs. 5000 u/s 271 F of Income Tax Act, 1961. Reason is that the Employer must have deducted the TDS due to crossing of Non-Taxable Limit.
And As per aforesaid Section, if a Taxable Return is filed after 31st March of Assessment Year, there shall be penalty of Rs. 5000.
Therefore, it will be advantageous to file the ITR if the TDS exceeds Rs. 5000 in each year.
thanks Rajan but somebody is saying tht u can fill return for AY 2008-09 as time is der for filling this return as TDS has already been deducted..........n evn AO wont ask for penalty
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