In case of a salaried individual ( having no other source of income), tax is paid (TDS) by the employer and form16 is given to the employee as proof. The individual has a timelimit of 2 years to file the tax return. After 2 years, the tax return is time-barred.
1/ Can a time-barred tax retunr be filled?
2/ What is the consequence if the tax return for the time-barred are not filed, but the tax returns are filed for the recent incomes?
pls provide the year of income earned.
Year of income 2009-2010 and 2010-2011
Sankar,
Time barred return cannot be filed. In very exceptional cases CBDT on application can condone delay in filing ITR if there is a refund not exceeding a prescribed limit.
For second question, the assessing officer can make a best judgement assessment or direct you to file a return under notice besides invoking penal provisions. But generally if there is no demand and for a purely salaried assessee you may rest in peace by possessing a Form 16.
Regards,
CAclubindia
