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Hurry – you can file income tax returns for last 2 years by 31st March

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it-return-deadline

Update June 2015 –  As per new circular, you can file application to claim refund for last 6 years. Read the post at the link. 

You must be aware that due date for filing your income tax returns in 31st July. However, sometimes taxpayers fail to file their returns on time.  But you can file the belated returns for last 2 years by 31-3-2016.

If you have received compliance notice for non-filing of returns, please read the post below

http://wealth18.com/notice-received-from-income-tax-department-what-to-do/

What are your options, if you have not filed returns by due date of 31st July?

If you have missed filing IT returns on time, you can file it within 1 year from the end of relevant assessment year

These returns which are filed after due date is called – BELATED tax returns (Section 139(4) of Income Tax Act 1961)

FY AY Due Date Belated Return
2011-2011 2012-2013 31/07/2012 till 31-3-2014
2012-2013 2013-2014 31/07/2013 till 31-3-2015
2013-2014 2014-2015 31/07/2014 till 31-3-2016
2014-2015 2015-2016 31/07/2015 till 31-3-2017

Are there any disadvantages of filing returns late?

Yes, if you file return after due date, you loose certain rights:

1) Interest on Outstanding Taxes –   If you have any taxes due and you have not filed return by due date, then you need to pay penal interest @ 1 % per month from the due date of filing the return to the actual date of filing  (As per Section 234A of the Act) .

For e.g if your tax due is Rs 10000 and you filed the return on 2-Aug-2013, you need to pay 1% interest on Rs 10000  i.e Rs 100

2) Penalty for ITR filing after 31-Mar-2016 (hardly exercised):  As per Section 271F of Income Tax Act, the assessing officer may impose a penalty of Rs 5000, if an individual fails to submit ITR before the end of the relevant assessment year. However, this penalty is rarely exercised by Assessing Officer, if taxes have been paid.

3) Belated returns cannot be REVISED : Returns  submitted after due date ( Belated returns) cannot be revised.  Only if you file IT returns before due date, you can revise it for any error.

4) Loose right to Carry forward any losses :   If you have not filed tax return by the due date, you cannot carry forwards the losses incurred in a financial year to subsequent financial years for offset against corresponding future income.

Loss from house property & depreciation loss can be carried forward even if the income tax return is filed after the due date .

5) Delayed refund –  Sometimes the refunds are delayed if you file returns after due date, as department will process the returns first which are received by due date.

 
How to file Belated return after Due date

There is no major difference in the process of filing Income Tax return before or after the deadline.
You just need to mention in ITR form that this is belated return under 139(4). While filing the ITR, select the return filed section code as “12” in the tax return form.

Upto 31-3-2015, you can file returns for following years:

AY 2014-2015 (FY 2013-2014)
AY 2013-2014 (FY 2012-2013)

So if you have not filed return for these years, Hurry up !!!!

Update June 2015 –  As per new circular, you can file application to claim refund for last 6 years. Read the post at the link. 

 

 

Read :  Many people are receiving notices for non-filing of IT returns

IT department to send notices for 21 lakh non-filers

If you have any tax related queries, feel free to ask using comments box below.

 

Important Links – Must Read

How to File Income Tax return (ITR) online – Step by Step Guide for eFiling

How to quick e-file ITR1 & ITR 4S online for FREE – Step by Step Guide

How to other ITR forms online (using excel upload) for FREE – Step by Step Guide

Income tax slab rates for FY 2014-2015 (AY 2015-2016)

[How to] get Electronic Verification Code (EVC) to e-Verify Income tax return for AY 2015-2016

[How to] View your Form 26AS online – Check Tax Credit Statement

Which ITR form to use for filing IT returns

How to pay balance Income Tax online

 

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

http://wealth18.com/

About wealth18

The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

430 comments

  1. I have received a notice from compliance management cell for non filing of income tax for AY 2011-2012 and AY 2012-2013. I am salaried employee and my employer had done the TDS.

    Also I have received information summary like CIB-321, CIB -326 , TDS-92B for FY 2009
    TDS -92A,TDS92B for FY 2010
    CIB-502 TDS-92A TDS -92B for FY 2011.

    The above all pertaining to me. Can u please help me out regarding the same what should I do with this .

    My main query is can I file the return for the above said assessment years. If I can’t will there will be any problem for me for not filing. Also I haven’t made any profit out of the trading in stock markets or commodities in above said.

    If I can file the return can u please help me out in same I can pay you for the same

    • Hi, You cannot file returns for these years as it is time barred.

      If the transactions are related to you, you need to Select “Self PAN”

      If you have not filed the returns, just select – Return not filed and Select “Reason” as Others & put commnets in Remark box.

      if you donot have income on which tax is not paid, then there is not so much of worry. But if there is any tax due, it is better to pay that (even when you cannot file retun).

      • Incase of reason CIB-203 for credit card payments above 50k, if the payments are related to travel expenses incurred for official travel later reimbursed by company then the PAN no is to be mentioned as “self PAN” or some thing else. Pl clarify this doubt.

  2. Vivek,
    First of all thanks for your time in responding the readers questions. Appreciate your time.

    I need your assistance for the below query.

    I received compliance notice from income tax and saying “Returns not received for AY2011-12”. I am sure i did filling through manually. Unfortuneltely i could not able to find my acknowledgement slip. Due to that i am unable to respond the compliance with Acknowledge number.
    With out acknowledgemnet number i can’t submit the compliance form.

    In this case what should I do? I am salaried employee and TDS already been deducted in that AY 2011-12.

    Please guide me.

  3. I lost my service in the year 2001 and never worked after that. As I had no income except some money from friends, relatives, paying guests which is also less than Rs. 200,000/- per year. I did not submit any IT return as I had no income. But now as I want to be a co-borrower to a loan from Bank, last 3 years IT return needs to be submitted. What should I do? Can I submit now the belated IT returns of last 3 years ? I have no tax to pay. I attained the age of 60 in March, 2012.

    Please advice me and help me with a solution to my problem URGENTLY.

    • you can only file belated retruns upto 1 year from end of relevant assessment year.

      So now, you can file belated return for FY 2012-2013 (AY 2013-2014)

  4. Tks sir 4 sharing this info

    its really helpful 4 me 4 my belated last 2 yrs IT file
    my doubt is totally clear.

  5. DUE DATE OF INCOME TAX RETURN FILLING IS 31.07.2014

    As everyone knows about filling of income tax return, here time has come again to file your return for FY 2013-14. Every individual is required to file their return if their income is above Rs. 2,00,000 and for senior citizens if their income is above 2,50,000. From this financial year onwards every assessee will get rebate of Rs.2000 if their gross total income is below 5,00,000. And it is not mandatory that only one can file his/her return if income is above 2,00,000/ 2,50,000 as the case may be rather person can file his/her return if income is below taxable limit.
    So here we are to help you in filling your returns for FY 2013-14. In case any person has failed to file their return for FY 2012-13 then remember time has not passed away they can file their return now also.

  6. Hiii,

    Kindly advise on situation below:-

    I have not filed the returns for AY 2013-14, but since I’m a salaried person the TDS got deducted.
    So is it possible that i can file the return now ??
    Also during that period my Form 16 doesn’t show HRA exemptions, so will i get the refund now if i file the returns ??

    I hope there wont be any penalty on late filing since the taxed are already paid.
    Please advice.

    Thanks

    • Hi Vivek,

      You can file the belated return till 31-3-2015
      You can claim HRA deduction, but then the chances of getting returns into scruitny will be higher as it will not tally with Form 16.

  7. I wanted to file return through incometaxefiling website. When I tried to file. It wanted me to select assessment year and it had options as ay1415 ay1314 and ay1213.
    Can I file for all the three years as I have not filed any return yet.
    Is there any risk if I file all.?

    • Hi Sambhav, There is no risk in filing old returns. In fact, thats a good thing to avoid notice for prior years.
      Ideally, you should have option for AY 2014-2015 & AY 2013-2014
      For AY 2012-2013, return could have been filed only till 31-3-2014 (belated return)

  8. kaushlendra dwivedi

    I am filling income tax return 2013 and 2014 years. Can u suggest what can I do.

  9. Father died many years ago. Ancestral agricultural land in village gives agricultural income to us two brothers 50% each . However brother is Australian citizen and not visit India at all for even before father died. Can brother australian citizen gift his share of agricultural income to me. If so can it be done verbally or in writing .If writing can he say that from date father died till next 25 years his share of agricultural income be treated as gift to me.

    • I am not 100% sure about the process. But I think your brother can gift you the property by executing a gift deed on proper stamp paper. It is better to get details from local lawyer.

      • He does not want to gift land property but wants to gift the agricultural income only . Is is okay to receive this gift ? Do I need to get any document from him ?

        • As he is your brother, he can gift you any amount of money and it will be tax exempt for you. There is no problem.
          If there is large amount, it is better to have gift deed written on paper with sign.

          • Incidentally since my brother is a citizen of Australia , does he have to pay income tax on his share of agricultural income in India ? He is paying income tax on his income earned in Australia to the Australian authorities.

          • Hi, I am not sure about Australian taxes rule but normally if he is citizen of Australia, he might have to declare his Global Income there ( incl Income in India) and have to pay taxes there. He can claim any taxes paid in India but since no tax is paid on Agricultural income here, he need to pay tax there.

            What kind of agricultural income it is ? He can sell that to you at nominal price and then you can sell then forward ..

  10. My friend a salaried employee of govt filed all income tax returns correctly on time since 1986 till date. However he not included agricultural income in his returns due to thinking agricultural income tax free. Now he learnt he made mistake. Can he now pay the balance tax due with interest 1% per month . If so will income tax people charge penalty.

    • Agriculture income is exempt under the Indian Income Tax Act. So no tax is payable for Agricultural income.

      However, for purpose of tax slab, you need to do the following

      1) Agricultural income is included with non-agricultural income in the case of non-corporate assessees who are liable to pay tax at specified slab rates.
      (a) Income tax is first calculated on the TOTAL Income ( net agricultural income plus non-agricultural sources income)

      (b) Income tax is then calculated on the basic exemption slab plus the assessee’s net agricultural income.

      (c) The difference between (a) and (b) is the amount of tax payable by the assessee.

      This process of computation is, however, followed only if the assessee’s non-agricultural income is in excess of the basic exemption slab.

      Also, you can pay income tax and interest for previous years, but you cannot revise your old returns.

      Also, Income tax officer can normally open cases for last 4 years. However, in some cases with approval they can open cases upto 16 years but normally they do so in cases where amount involved is huge (few crores etc).

      How much agricultural income per year, he forget to include ??

      • The total agricultural income over the last 20 plus years is about Rs 09 lacs. Interest works out to about Rs 7 lacs. In case he pays the subject amounts now then will he also be levied penalty ? If so how much ?

  11. Sir I m a salaried employee and for the AY-2013-14 I was eligible for IT refund but unfortunately I couldn’t file my return so now can I file my return and will I get refund of tax please Help me out. thanks

  12. Shall I file my return for the FY 2010-2011, 2011-12 on or before September 2014. What is the procedure for file old returns. Pls give your feedback to me.

    • Hi Nagrajan, You cannot file return for these years now.

      You can only file return upto 1 year from the end of the assessment year.

  13. hello sir,
    I have filled my income tax return for AY 2014-15 after due date under section 139(1) instead of 139(4). please suggest what should i do in this case.

  14. What is meant by revised return ? When can it be filed ? How many years old returns can be revised ?

    • Hi Ramesh, if you notice any error in your return after filing, you can revise your return before the assessment is done.

      • What is the meaning of assessment ? How does one get to know whether assessment has been done or not ?

        • Assessment in normal sense, means checking of returns by Income tax dept. You will get either notice or assessment order for your submitted income tax return.

  15. Dear Mr. Vivek,
    I was a salaried employee from 2005 to 2009 and lost job in the recession. I got my taxes deducted and received my Form 16 till 2009. However I have filed only one ITR till date which was in 2007. I was unable to file ITR for other years as I was without job and income and was struggling with everything.

    I have recently joined another job and would like to fill my previous ITR’s. 2009 to 2014, I had no income and survived by money from my family.

    Kindly advise, what can I do to regularise my account and not make me a defaulter in the eyes of IT Dept. My taxes were deducted at source when I was employed.

    Kindly reply soon.
    Thank You.

    • Hi Manish, now you can only file returns for FY 2013-2013 & FY 2013-2014.
      You cannot file returns for years before that.

      If you did not have any income or income below taxable limit for those years, you need not worry. You will not be treated as defaulter.

      • Dear Mr. Vivek,
        Thank you for the reply.
        I had taxable income from 2005-2009 and my TDS was collected by the employers and was issued Form 16. I am worried about that period. I had no tax pending and no refunds are pending too.
        I had filled ITR only once in 2007.
        Is there anyway I can approach IT Dept and request them to accept past ITR’s.

        Regards,

        • Hi Manish, there is no option to file return for these past years. You should not worry much as no taxes are due.
          Going forward you should file returns to avoid any issues.

  16. Sir, I am a Salaried Engineer, from Govt. Undertaking company since 2006 and filed all my returns regularly except for 2012-13. The reason was from Nov 2011 to Feb 2012, I was on deputation to Private Organization from our Company. The Private company has issued me for No. 16A for Nov 2011 to Feb 2012, but the form 16A for Apr-11 to Oct. 11 is yet not issued to me by my original company… Further I have filed my ITRs online for 2013-14 & 2014-15. .. Sir, how can I file ITR for 2012-13 now, please guide…. I want it for taking Loan. ie (Last 5 ITRs) Please guide me sir…

    • For Fy 2011-2012 (AY 2012-2013), you could have filed return only till 31-3-2014.
      You cannot file the return for that year now.

      Your employer should have prepared Form 16A for FY 2011-2012 , but it will be difficult to persuade that to give you now. For loan purpose, you can ask your bank if they can accept your salary slip & ITR for 4 years.

      • Sir, my Income falls below 5 lakhs during 2011-12, (4.15 Approx)

        Sir, am I a ITR defaulter under this case.for 2011-12

        • The Central Board of Direct Taxes (CBDT) had exempted salaried employees having total income of upto Rs 5 lakh including income from other sources upto Rs 10,000 from the requirement of filing income tax return for assessment year 2011-12 and 2012-13, respectively

  17. sir, my father has not filed itr for last two years. will there be any fine? if he pay the due income tax now?

    • You can pay tax with interest. if you file return & pay taxes before any assessment, there most likely there will not be any penalty.
      Make sure you select right assessment years when you make that payment.

  18. Sir,
    Am having bank account in sbi ,one of my friend asking my account for doing online shares broking , because he have no bank accou nt and no proofs for open the account (residence proof local etc) so if he did the business in laks then is der any problem to me for it retuns, can i give the account please suggest me.

  19. Vivekji Namaste,

    Pl let me have ur advise on the following points:

    1. I am a retired official. I want to gift 50% of of terminal benefits to my wife who is a house wife with no income. What should be my legal procedure for the same? Should I have to pay income tax on the amount of interest that my wife shall be getting from the Bank against the gifted amount?

    2. If I shall dispose of my house at one place and purchase another house in another city within a month or two, shall I have to pay Capital Gain Tax? If it is YES then what are the slabs /rate?

  20. Hi
    I had filed the returns for year 2013-2014 on time, but the CA missed sending the signed acknowledgement to CPC. I got to know of the missed ack when filing the current years returns. I have submitted the resigned copy of acknowledgement to CPC and have received a confirmation receipt. It shows ITRV received after due date on the efiling website.

    I was supposed to get some refund for 2013-14. Will I still receive it after late filing?

  21. Hi,
    My company didn’t provided form 16 till date and also they didn’t deducted any TDS for this financial year.
    Afetr savings my taxable income will only be Rs. 2200.

    Is there any way I can file IT return current year ?

  22. Sir

    I am an employee of a PSU. I pay my returns every year. There are some FDs and mutual funds on my wife s (who is lawyer but no income ) name with her PAN no. I am planning to file returns separately on her name. Is it possible ? Pl. advise me. I have already filed my returns last month.

  23. Sir
    As my wife has income is from investments and no income from salary like me, which form in IT we should fill for returns? I think ITR-1 form is not suitable for her return filing as it says salary column cannot be zero.. what should I d0 ..Kindly advise.

    • How much is the amount ?
      If there is capital gain, then you need to file ITR2.
      or else you can show whole amount as “Income from other sources” and file return in ITR 1

  24. Atam Parkash Dudeja

    Dear Vivek,

    I have rec letter from IT Department reg non filling of IT return for AY 2011-12. I am a retired Govt servant retired from the Ministry in April, 2012 and was filling the return manually every year and kept the Acknowledgment receipt till this year. But I could not find the receipt of the year (AY 2011-12). What I remember, my cash clerk has told me that you have not to file the return as your total income is less than 5 lakh in that year (AY 2011-12) or I have lost the same. My salary in that year was as under:

    Gross salary : 605156
    less Transport allowance: 9600
    Total : 595,556
    Saving under 80C: 103,900
    Total income : 491656
    Tax on total taxable income including 3% Cess : 34161

    This Tax has been deducted from my salary for the year 2010-11 and given me the Form No. 16 which is with me.

    Now my query is Sir, how to go further.

    Regards,

    A.P.Dudeja.

  25. Hello Vivek,

    I filed my IT return for the AY 2012-2013(Year : 2011-2012) on 05-08-2013 but missed to send signed ITR-V form back.

    Last month, I got a mail saying “Non-Receipt of ITR V” with the content below:
    “You are therefore requested to submit the Verification form i.e. ITR-V in respect of the e-return for AY 2012 duly verified and
    signed in original on or before 30th September 2014 failing which the e-return as indicated above will be liable to be treated as
    if never furnished.”

    But while checking the returns, I noticed that I filled the Gross Total Income without removing allowances which is a mistake I guess.
    Details from Form 16:
    GROSS TOTAL INCOME (6+7) : INR 223492.17
    Aggregate of deductible amount under Chapter VI-A : INR 24358
    Total income (8-10) : INR 199130.00
    Tax payable (14-15) : INR 1970.00 (The same is deducted from my salary)

    Details from ITR-V:
    Gross Total Income : INR 289152 <—- This is the value that I wrongly updated
    Deductions under Chapter-VI-A : INR 24358
    Total Income : INR 264790
    Total Tax and Interest Payable : INR 1970

    Also, I missed to include the Education Loan Interest INR 36201 (Interest from Apr 2011 to Mar-2012) in 80D. So, I don't have to pay tax for AY 2012-2013 as my total income is less than INR 1,80,000. It was my first year into a Job after graduation and I messed it pretty well.

    Since I am unwell for nearly a month, I was not able to update the form on time.
    My queries:
    1. Is it considered as Belated filing as i filled on august 2013?
    2. Is there a way to correct the mistakes and submit the revised returns for the AY 2012-2013?
    3. Since I didn't send the ITR-V form before the deadline(30Sep14) after the intimation mail, will I be facing any legal actions? If so, what would it be? some people say I'll have to pay 5000 as penalty.
    4. If they accept the revised return, will they refund the tax paid?

    P.S : I'm sorry for such a big essay 🙂

    Thanks
    Ram

    • Hi Ram, You need to send the signed UTR V before the required date. if the return is treated as not furnished, then you will not be able to file return again for AY 2012-2013 as it will be time barred.

      For non filing of return, a penalty of Rs 5000 can be imposed. But this option is rarely exercised incases, where all taxes have been paid.

      • Thanks for your response Vivek.

        But as I mentioned in my previous comment, the value filled towards Total Income is wrong and I missed to update 80E(Educational Loan Interest of INR36k). Still, can i send the signed ITR-V without updating these values?

        • If the tax payable in both ITR ^& Form 16 is same – 1970, then it should be OK. because it may be possible that the deductions are shown in different lines.
          You can not claim the 80E deduction now. You should just sign the ITR-V and send.

  26. The income of my wife from other sources is around 5.2 lacs. per year mostly from bank FDs.
    This amount 5.2 lacs will be written in “income from salaries” column in ITR-1 form. Because in ITR-1 shows error when I put salary zero and income from other sources is 5.2 lacs. Please advice.

    • Hi, You must be doing something incorrectly. While filing return in ITR 1 ,you can select Salary as Zero.
      You can just enter the amount under Income from Other sources

      What error are you getting ?

  27. Sir I had salary income for FY 11-12 & 12-13 but I have not filed the income tax returns for these years. Now I have recieved the income tax notice for not filing the ITR for these financial years. What I have to do whether I can file the return without penalty online. My income was more than Rs 5 lacs.

  28. Vivek ji

    As you told that we can file belated return for Previous 2years
    Eg FY 12-13 before 31-03-2015
    If tax due is NIL what are chances of penalty which AO can levy u/s 271F
    % of cases in which AO can levy penalty

    and If we file return for FY 13-14 after due date can we are able to take deduction benefit u/s 80TTA ( Rs 10, 000) saving bank interest
    And also Rs 2000 tax benefit which is applicable if GTI is below 5 lacs or tax due below ….

    Please help me

    Thanks in Advance

    • Hi Sagar, even if you file belated return after due date, you can claim deductions / rebate.

      If the taxes due is NIL, there are very very minimal chances of penalty.

      • SIR I HAVE RECEIVED NON FILLING OF ITR FOR THE FINANCIAL YEAR 2013-14 AND ASSESSMENT YEAR 2014-15. I WOULD NOT FILE THE RETURN . I AM GOVERNMENT SERVET AND I HAVE SALARY INCOME ABOVE RS.500000/- SO CAN I FILL THE RETURN FOR F.N 2013-14 & A.Y 2014-15 WITHOUT INTEREST AND PENALITY.

        • Hi Krishan, You cannot file the return for AY 2014-2015 now. You could have file the return only till 31-3-2016.

  29. Vivek Ji

    My other due is regarding treatment of Cash deposit in Saving joint a/c of Father and Son

    How Interest is taxable??
    In which income interest from that joint a/c should include

    Suppose if interest is 18000 will both father and son get 10, 000 deduction

    Or
    Rs 8000 is taxable
    If taxable in whose income will include

    • I think, both father & son can claim deduction. as long as you can show that the amount in joint account is income from both of you.

  30. sir, i am working in PSU. for AY 2011-12 AND AY 2012-2013, FORM 16 and FORM 26 was not matched. So i did not file ITR. Now i got letter from income tax dept. to file ITR . But during file ITR shows “due date is over”. how can i file ITR, please help me.

  31. Hi Vivek g,

    I had been a Salaried employee since 2008 in private sector worked in 3 diff companies,

    The TDS was deducted timely and have all Form16 available with me.
    Also, I had only FDs & RDs against my two account numbers. Besides I had matured 3 Indira Vikas Patras since then.

    One of the known CA who was filling my ITVRS , had filed ITVR till FY 2009 – 2010, after that he moved out shifted & I had skipped FILLING OF ITVR since then.

    Please advise :
    1. What are all the Documents I should ask from Bank OR Employers to verify any Tax Pending? & what are the typologies i should see in my Balance sheet to calculate the Paid & unpaid taxes?
    2. If Unpaid taxes are found, HOW CAN I SUBMIT THE SAME? Forms etc…
    3. While filling the Belated ITVRS what Back up data should I have & Precautions to be taken care off?
    4. By any means, can I file the Backlog ITVRs – “BEFORE” FY2012-13. manually or by net?

    I seek your response with anticipation

    CAUTION TO DEFAULTERS LIKE ME: “BANKS HAD DENIED LOAN IN ABSENCE OF ITVR & I AM STUCK UP” !!
    Message: FILL ITVR / BELATED ITVR IMMIDIATELY…..

    Thanks.

    Amit

  32. A super senior citizen has not filed returns for the last 25 years, after retirement. His pension is under the taxable slab, but he has FD interest income.
    Can he file returns for the past years now?

  33. Hi,
    I have missed to file the IT returns of FY 2011-2012.Taxes are already filed and I have the Form 16.I am salaried employee in a private firm. May I know whether I can file the returns now. Also what is the formality.
    Thanks
    Maidhily

  34. I am a salaried person and due to error from my CA side, he missed filing my returns. I have Form16 with me. As you have mentioned, we cannot file returns now. But then what’s the next step ? just wait for IT compliance notice ? Forgot to mention that this is for AY 12-13 (FY 11-12).

    • Hi Sandeep, Unfortunately you cannot file the return now. Only thing you can do is to check that your have paid right taxes.

  35. Sir, I am salaried employee, from this year we filed income tax online and I received Intimation u/s 143(1) wherein refund for AY 2014-15 has been shown adjusted against demand of AY 2010-11. The outstanding demand clearly is non filed tax with interest of AY 2010-11. While I have receipt with serial number of return from IT department. I checked 26AS and found that DDO did not file my TDS and it shows nothing there. Before this Intimation I never received any notice of non filing return. Clearly I am not at default. However I learned that I need to file Indemnity bond etc.
    Kindly guide me step wise what should I do now.

    • Sir, What would be indemnity format in above case ? It also has refund.

    • Do you have payslip or form 16 to proof that TDS was deducted by your employer in AY 2010-2011 ?
      If yes and you cannot see in your Form 26AS, then check with your employer if they have deposited tax against right PAN.

      You can also send TDS proof to Income tax officer and ask them not to adjust the refund.

      • I also checked that quoted PAN is also wrong, so there is no deposit by employer at all in 26 AS. Kindly guide me as to which steps required to be taken by my. Notice says to deposit sum in 30 days time, which expires on 03/11/14

        • Hi Manish,

          whether are tax is still due ?

          Also, you need to write a letter to your employer regarding the wrong PAN. As the considerable time has passed, they may not revise the return.

          You can also write a letter to your Income tax officer alongwith the Form 16 & explain that wrong PAN was given by employer

          • No tax is due, in fact there was refund also. Do I need to write to CPC, Bangalore as notice received from there?
            I already approached employer who are contacting CA for rectification so they said this to me. However I cannot do anything till employer deposits tax with IT department, I do not know how this will be done by them?

          • II think the tax should already been deposited by employer against wrong PAN. They need to rectify the PAN.
            In the meantime you can write to your assessing officer. The details will be there on demand or when filing the return.

  36. Sir, Kindly guide me in above matter.

  37. Sir,
    Please help me while i got a notice from income tax department for not paying income tax return for assessment year AY 2011-12 & AY 2012-13.
    I only got pension and intrest amount .
    So please advice me how to pay these years payement.

    • You cannot file return for these years now,

      But you can calculates the due taxes and pay against the relevant assessment year. details on which challan to use is given in post above.

  38. Dear sir, I have recd non compliance email from CPC b’lore, for not filing ITR of FY10-11. I have rental and bank interest income. I had deposited tax due for FY10-11 with applicable penalty in Mar’14. I prepared & tried to submit my paper ITR (on line was not allowed) in ITO office in Apr’14, but at the reception counter i was told this ITR can not be accepted now, being time barred.

    Since then i am not getting any proper guidance about what should be my course of action to close/dispose off my non compliance status or what should i reply to CPC email. Pl advise. Thanks.

  39. Hello Vivek,

    I filed my income tax return for A.Y 2009-10 on 31 Mar 2010 physically. I was due refund of Rs. 1600/-

    Till date I have neither received the refund nor any intimation U/S 143(1).

    Recently while looking at my account on incometaxefiling web site, I found a tax demand of Rs, 120000/- for A.Y 2009-10, demand is dated 17 Nov,2010. I asked for intimation U/S 143(1) on the same web site. Reply appeared that no intimation exist for this A.Y.
    What should I do? I understand assessment has to be served to tax payer by the A.O. I am afraid that if I ask for intimation by letter now, I may not get it in time to file rectification as 4 years period for filing rectification will expire. Secondly it may turn out to be a case of ” COME BULL,Hit ME”.
    Please guide me.
    Thanks and Regards,

    I

    • Hi, You are right that intimation needs to be sent to the taxpayer. It may happen that your PAN address is not updated.
      You can contact CPC call center and ask for tax demand details. It may happen that some of the tax credit is not against your correct PAN.(which needs rectification).

      Once you have that, you can file rectification request u/s 154.
      Also, CBDT has come out with a Circular No. 4 of 2012 dated 20th June, 2012 wherein they have authorized the Assessing Officers to make appropriate corrections in the figures of such disputed arrear demands after due verification/reconciliation and after examining the same on the merits, whether by way of rectification or otherwise, irrespective of the fact that the period of limitation of four years as provided under section 154(7) of the Act has elapsed.

      • I filed the return for A.Y 2009-10 physically at pune income tax office. I think I need to seek details from my A.O at pune and not CPC. Should I call for intimation U/S 143(1) from him?
        And thanks for sparing your valuable time to help us tax payers.
        Regards,
        Joginder Sud

        • You can try contacting the AO at Pune. But as demand was raised , even CPC should be able to locate the demand details.

          • I am still undecided that since intimation need to be served, should I take initiative to ask for intimation or should I keep quiet and deal with it whenever intimation is received. Which option is better?
            Regards,
            joginder Sud

          • I think it is better to get the things clarified. Just keeping the demand open may not be advisable.

  40. Hi Vivek,

    For the AY2014-2015, I got ‘Tax payable’ to be INR 8470.
    Thinking that I would get an option to pay while submitting IT return, I filled my IT returns. But I didn’t get any option to pay the due amount and ITR-V got generated that includes this due amount.

    Can you please help me with my next step? Where should I pay this due amount INR 8470? And how can I include this payment in the AY2014-2015 ITR?

    Thanks, Ram

  41. Hi. I am a NRI living outside India since 2006. I have annual income of about INR 300,000 on FDs with banks in India and they are deducting 10% as TDS. I dont have any other income in India from other source. So my question is, can I file a annual return and claim the excess amount of TDS becuase as per my understanding my tax liability is on (300000-250000) = 50000 @ 10% = Rs 5000 only. Please advise and how?

  42. Hi Vivek, I came here from searching for some tax related issues. I had paid the tax after filing ITR 1 as ‘Tax payable’ for FY 13-14 and so had to file a rectification under 139(9). The ‘View Return/Forms’ in the site shows the status for the defective return filed as ‘Return Uploaded’. However, I received a notification from the tax department on 28th Oct which asked me to file a corrected return under 139(9). When I tried to do it online, I found that interest was auto calculated on the tax payable (that was already paid along with the first rectification). So I paid the interest and only then realized that the site was showing error with the details provided to file under 139(9). It says details mismatch. (I tried with the acknowledgement no. in the notification as well as the acknowledgement no. of the defective return filed.) I am wondering what to do now. Can I file a 139(5) now? Or is there something else? Kindly reply as I am much confused. Thanks in advance.

  43. Dear vivek sir,

    I have filled income tax return for AY 2010-11 and 2011-12 on time. But the refund not received till today. I have checked online status and it shows that the account number is mismatch. My question is can I get that refund now? If yes, how? Will I file revised return for those AY?

    Thanks and Regards
    Tausik pathan
    (LIC Advisor)

  44. Then according to your article, i learnt that we cannot file a return for the AY 12-13 in this Assessment year….i.e., 2014-15…Is this correct???…

    Just please confirm.

    Thanks in anticipation !!!

  45. Hi , I am a salaried person . In form 16 detail -(1)Gross salary is 543802 (2) less allowance to the extent exempt u/s 10 is 18464 .( It may be TA for online duty , conveyance allowance , stitching allowance , HRA .which r not written in f-16. (3).Tax on employment 2600. (4) Income chargeable under head of salaries 522738. If all situations are same as ITR 1. Which form should I select. If ITR 2 , it is not available in IT e filling website . kindly response .

  46. Recently I have submitted IT returns for FY 2014-15. As a PSU employee, we have received arrears of perks and tax for which I claimed benefit under section 89/1. The refund amount is 2.09 lacs. out of 10.71 lacs. of total tax. Two days back, I have received E-mail from IT under section 143(1), the refund value is zero according to IT assessment. IT officer has not mentioned any reason for denying of refund. what do you advise for getting refund. What are the possible reasons for non payment of refund.

    • I think you have submitted return for FY 2013-2014 ( AY 2014-2015) as you cannot file return for FY 2014-2015 now.

      Pls check the assessment year on the assessment notice. Compare with the return filed for that year.

      You can send the files to my email as well (vivek@wealth18.com)

  47. HI,

    My mother (58 years) is retired and her only source of income is the interest she receives on her FDs. In the previous financial year (2013-2014) she had only received a total amount of Rs 56,000 as interest. She didn’t file her e-returns that year because she thought that since she isn’t coming under the tax bracket, she needn’t file it. This year, her total earning in interest is Rs. 2, 93, 000. But the bank has cut tax of Rs. 13,000 even though she had provided a form claiming that she doesn’t come under the tax bracket. The bank is asking her to file e-return, but the trouble is, since she didn’t file it the previous year, without an acknowledgement number, she is not able to file e-return for this year either. What needs to be done in such a case?

    • Hi Divya,

      When the income was Rs 5600, then no return was required.

      But if the income is Rs 293000, then it falls above taxable limit. Form 15G will not be approved in that case.

      She can file return online & claim refund, if needed. there is no requirement to have previous year acknowledgement number.

  48. Hi Vivek,

    For the AY2014-2015, I got ‘Tax payable’ to be INR 8470. While submitting the IT returns, I didn’t get an option to pay the due amount online.

    Please guide me on how to pay the due amount and hoe to revise the submitted IT Return?

    Thanks, Ram

  49. sir,
    Q1 what is CIB 502
    Q2 I AM INVESTING AND INTRADAY TRADING IN CASH,FUTURE SEGEMENTS IN STOCK MARKET FROM 2008
    MY INTRADY DAY TURNOVER ARE HUGE
    I AM NOT IT RETURNED STILL NOW, I DIDNT GET ANY NOTICE BUT I AM AFFRIADE ABOUT FUTURE
    I NEED TO DO ALL YEARS FROM 2008 OR ???

    • 1) You can only file return for FY 2012-2013(AY 2013-2014) and FY 2013-201(AY 2014-2015) now.
      2) As your turnover is large, you need to maintain books of accounts and get it audited by CA. Alternatively, you can assume income of 8% of total turnover & pay tax accordingly.

  50. How do we get acknowledged copy of latest IT Assessment order?

    • If the assessment is done, you will get an assessment order. It does not required to be acknowledged.
      However, when you file Income tax return online, you get acknowledgment of filing the return in form of ITR V. You need to send this to the Central IT processing cell.

      • ya I have sent ITR V to the CPC two days ago but i have to submit acknowledged copy of latest IT Assessment order in order to join in a different company.So,can you please help me out is the ITR V form enough or we get a separate acknowledged copy of Assessment order?
        One more thing they mail us a confirmation of receipt of ITR V form at CPC.
        So,the ITR V along with the confirmation receipt will suffice as Assessment order or not???

        • For joining in new company, submitting ITR V should be enough. Normally they ask for last payslips ( and not IT Assessment order)

  51. sir,
    i have recieved u/s133(6) from IT.i am central govt salried person.i filled 2013-2014Ay by maual.i deposied 8 lakhs at cooperative society they are not deducted TDS for FD and i also not include this interest income my return filled.but after recieved they ask the compliance what can i do now sir

    • Hi Prabhu, For AY 2013-2014 you can still revise your return and include the interest in the return & pay tax accordingly.
      Section 133(6) of Income Tax gives power to Income tax officers to call for information regarding accounts & statements.

  52. what is the meaning of CIB-502

    • does it give more details after CIB 502. Amount etc ?

      • my friend get cib-502 = 10,00,000 transaction in commodity exchange, but he dont have account in commodity exchange, but he have account in stock market.

        vivek sir,
        i am doing intraday trading in stock market since 2008 (huge transactions on intraday basis)
        monthly turnover is 2 to 3 crores
        but cheqs paid or recevid yearly 2 to 3 lakhs.
        i didnot get any notice still now
        now a days it notices are coming na, i am afrading about futre.
        should i file from 2008 or keep slient

        • 1) You can only file return for FY 2012-2013(AY 2013-2014) and FY 2013-201(AY 2014-2015) now.
          2) As your turnover is large, you need to maintain books of accounts and get it audited by CA. Alternatively, you can assume income of 8% of total turnover & pay tax accordingly.

      • my friend get notice cib-502 10,00,000 transaction in commodity exchange, but he didnot done in commodity exchange, but he done in stock market..
        vivek sir,
        i am doing share market intraday trading since 2008
        monthlly intraday turnover avg is 3 to 4 crores.
        but cheqs givne and received is 2 to 3 laksh only
        i didnt get any notice stilln now , but iam afraide about futere
        what should i do plz giv me replayl sir

        • 1) You can only file return for FY 2012-2013(AY 2013-2014) and FY 2013-201(AY 2014-2015) now.
          2) As your turnover is large, you need to maintain books of accounts and get it audited by CA. Alternatively, you can assume income of 8% of total turnover & pay tax accordingly.

          You should file the return as early as possible

  53. Dear Sir, shall we return file for FY – 2012 -2013 now

  54. sir,
    I have not included the four months salary arrear ( of FY 2012-13 ) received in FY 2013-14 while filing the return of FY 2013-14 . What should I do ?

  55. Do you undertake the filing of income tax return on behalf of NRIs? Is it possible for you to give an idea about the charges to be paid to avail such services?

    Thanks in advance.

  56. Hi,

    I had efiled my 2013-2014 in time, however couldn’t post the hard copy to Bangalore in time, I have sent it in October 2014, now I receive status as “ITRV received after due date”, so what shall I do, will it get processed or not, do I need to take any action here, plzz siggest

    • If the ITR V is not received within the defined time, it is deemed as Invalid. However, what is the status of return showing in your online efiling account.

  57. Hello Sir,

    I have a saving in my piggy bank at home which has grown considerably with time (over 20 years) and now I wish to invest it in in the stock Market but I do not know what should i mention in the source of Money being invested there.

    • Hi Alok, They donot ask you for source of income. Also it depends how much money you want to Invest.

      • Hello Sir,

        It is just that the amount is big a total of mine and my wife makes it to 5 Lac approx. Please advice how should I go ahead with it.

        • Hi Alok, I think it is better to deposit the money into bank account periodically over a period of time. You can invest in the lots of Rs 45000

          • Thanks for your reply Sir.. Please advice if it is ok to put 45k in 15 to 25 days interval over the period of time and can purchase securities with that. Also advice, at the time of filing the return what do i need to show as source. Is the amount big enough for them to ask question?

            Thanks for your help in advance.

          • At the time of return filing, you need to show the income from Shares etc… As the amount is not that large. they may not be asking the source of this amount. But there is no 100% surety.

  58. Hello vivek…
    My story:
    I moved overseas for job assignments and opened an NRE account in India in which my salary is credited. The problem is:
    1. My tax advisor has filed my return for FY 2011-12, 12-13, & 13-14 as Resident whereas i fit under the definition of NRI. I am still working overseas.
    2. All the above three years returns are filed after their due dates
    3. The negative income under the head “income from house / property” is not considered. I have had a home loan and I have been paying EMI during all the three years and continuing still.
    4. In NOV. 2013 I sold a property (completed flat whose possession was with me) the TDS of which was deducted @1%. The net gain from the sale was around 17 lakh. However , i reinvested around 35 lakh in booking another flat the possession of which I am still to get. The flat ofcourse was booked in May 2013.
    5. I read some things through online forums & google search as I was trying to enhance my tax knowledge so that I can file returns myself in future.
    6. My return for FY 2013-14 is not assessed yet.
    Kindly advise.

    • 1) Belated returns cannot be revised, so you cannot revise thee returns
      2) For FY 2013-2014 (AY 2014-2015) , the due date is passed, but you can file belated return.

      3) As the flat was bought in May 2013 & sold in Nov 2013, it will be short term capital gain and you cannot claim capital gain exemption by investing in another property.

  59. Hello Sir,

    I had not submitted the proofs for income for the year 2013-14 to my company due to which there were tax deductions in my salary in this year 2014. I have the proofs with me now which says that there should not be any tax deductions in my salary. Now can I go for a refund of the tax deducted from my salary.

    • Hi, You can file the return & claim the refund. However, as there will be difference between your Form 16 & Income from Salary head in return, the IT officer may ask you for details / come under scrutiny. In that case you need to submit the details docs.

  60. can i file nil return of PY 2011-12 NOW

  61. hi everyone i want to file return last 3 year. please help me you can call my no.8595435046

  62. Hi.. My mother is 54 yr old. Her only source of income is house rent from last two yrs. She is planning to get a loan and they are asking last two years ITR. As she has not filed ITR from last two yrs. can she do so?? what is the procedure and charges for the same?

  63. Hi i have file tax return of AY2012-13,AY2013-14 through one of my friend in july 2014. till date i have not recieved refund.
    I dont have email id(FORGOT).When i check my status it shows not refunded(asseccing oficer didnot sent…..)
    what should i do now.

  64. hello Mr Vivek,
    my mother is getting pension from govt after my father’s demise , now I filled itr for Ay 12-13,Ay13-14,Ay14-15,
    some Tds was done by bank, rest amount I paid through challan along with interest on tax.
    what should I expect now.
    pl guide me
    thanx

    • You should not worry now. As you have filed returns, now if your return picked up for scrutiny, then IT office may ask for additional docs etc… otherwise all done.

  65. m worried about penalty, I have nt got any notice, filed ITR myself

  66. I filled itr along with pending tax & interest for assessment ay2012,now wht should I expect abt penalty, I haven’t got any notice from deptt. I filed itr myself

    • Hi Upen, Which penalty are you asking about? Is it the penalty of Rs 5000 for late filing of return. Normally such penalty is not levied if the returns are filed even after the time.

  67. cpc forwarded case to local jurisdiction, Nw wht to expect

  68. HI,

    I have filled ITR 1 for year 2012-13 Assessment Year but rejected with reason ITRV received after due date.

    2012-13 ITR-1 30/07/2012 (Filling Date) Original ITRV received after due date (reason given)

    What should I do now?

    How can I submit now? will there be any additional charges for this?

    and what is the meaning of state ITR PROCESSED, does it mean that its accepted?

    Thanks,
    Shiva kumar

  69. I have filed my ITR V for the years AY 2011-12 , AY 2012-13 and AY 2013-14 by my companies accountant on SEP10th2013.

    The accountant gave me reciepts for all the three AY 2011-12 , AY 2012-13 and AY 2013-14. I have acknowledge ment copies of the ITR V with me. I didn’t recieve any refund .Can you please let me know to proceed?

    Can I again file returns MANUALLY by any accounts or do I need to wait for few more days.

    If so how can I check the REFUND STATUS for the above years which were filed by accountant .

    Please help me and educate me in this issue.

    After a long wait from the refund.I came to know that efiling is easy and filed ITR FOR AY 2014-15 and My refund processed sucessfully.

    • Hi, There is no option to track the refund for the returns submitted manually. You can write to your IT Assessing officer to check the status of the refund.
      How much refund are you expecting for these years ?

      • My ITR Refund for AY2011-12 is Rs16,300/- and for AY 2012-13 is Rs 16,750/-.
        How will the interest be calculated .I filed my ITR Manually on SEP10th2013.

        • Under Section 244A of the Income-Tax Act, a taxpayer is entitled to interest at 0.5% for every month (6% per annum) from the first day of April of the assessment year to the date on which the refund is granted, where the refund arises on account of tax deduction at source (TDS) or advance-tax payment. However, no interest is paid if the refund amount is less than 10% of the tax paid.

  70. Hi Vivek..

    My Cousin has a Service based (Websites and Graphic Designing) Pvt. Ltd. company incorporated in September 2012.

    It has not filed its income tax returns nor any compliances to the Income tax department or Corporate Affairs department.
    Now he is in dilemma as to how can he get the needful done with a safe exit and minimum penalties.

    1) IT returns from Sep2012 to Mar 2013
    2) IT returns of Apr 2013-14

    Also kindly let me know if there are any other compliances to be done.

    • you can only file return upto 1 year from end of relevant assessment year.
      till Mar 2015, you can file return for AY 2013-2014 (FY 2012-2013) & AY 2014-2015 ( FY 2013-2014)

  71. I work in a research organization and do receive a stipend of Rs. 16000/-per month (1.92 Lac annually) with no tax deductions. So do I need to file ITR ?

    • As your income is below taxable limit, you donot need to file return.

      But is is always good to file returns for future perspective, if you need to take loan in future, submit income proof etc.

  72. Hi,

    I have filed return for AY 2013-14 and AY 2014-15 on 30th Dec 2014, but didn’t submitte it so far. When i review the return which i uploaded i found that I have not updated ward number nor it got picked automatically and also selected the sec 139(1).

    Please advise me if I can edit the return uploaded via quick upload or can I again file a new one and submit that and ignore the one uploaded.

    Also can i upload return for AY2012-13, as option is thr in IT website. My Income was lesser than taxable limit hence advise me if i IT department will charge me for any penalty of not filing those return on time.

    • 1) Whether ITR V is generated for your submitted returns.

      2) Belated returns cannot be revised. You can try uploading another return, it may not allow you.

      3) You cannot file return for AY 2012-2013 now. Also if your income was below limit, then you donot need to file return & no penalty will be levied.

      • Hi Vivek,

        thanks for the update and answer to your questions are :

        1. ITR V has been generated.
        2. If it can’t be revised now, then can I submit the ITR V which got generated.
        3. IT site is showing that AY 2012-13 is still open, so can i submit the return ?

        • Yes you should send the ITR V which is generated
          You cannot file return for AY 2012-2013 now . as it could have been filed latest by 31-3-2014. You can try to upload…

  73. Hi Sir,

    For Assessment Year 2014-15, I paid taxes for my friend who is a US citizen using my bank account. He was in India last year when he earned some money but he closed his bank account before leaving the country. Since he does not have a bank account in India, I paid his taxes. But the tax got deducted twice from my bank account due to some technical error at bank’s end. I filed for his return and gave my bank account details. But the refund has not been deposited into my account due to “Account Description Incorrect”. I believe that is because the bank details I am providing are not in the name of taxpayer. Is there a way my friend could get the refund in his bank account either in US or through some other medium? It would cost him more (than the refund amount) to travel to India to open a bank account, so that is an option I am not looking for.

    I would be highly obliged to have your expert advice on the issue.

    Thanks,
    Pulkit

    • Hi Pulkit,
      I think you did mistake by putting your bank account for refund in his Income tax return.
      For getting refund, the bank account should be in your friend’s name. He can open an NRO account by sending the application form from abroad. he does not need to visit to India.
      He cannot get refund in his US account.
      Once the account is opened, he need to request the IT officer to process the refund in the new account. As it involved lot of communication, you should expect delay in getting the refund again and with lots of followup with IT department.

      • Thank you Vivek. Would you suggest me a few reliable and less expensive banks that can open an NRO account without the physical presence of my friend. We contacted Canara Bank, they are denying.

        • You can contact Kotak or Yes Bank. Both banks offer facility to open NRE/NRO account without physically present in India. I can email you the contacts.

          • Okay please send the contacts? Do you see my email address? Thank you so much. One last question, would they allow closing the accounts without physically being present?

          • contact sent to your email ID for opening NRE account at Yes bank.
            You will be able to close account without being physically present.

  74. Hi vivek,
    I had e-filed the IT 1 form for the financial years 2013-14,2012-13,
    2011-12 and 2010-2011 and received the acknowledgement forms for all these years.
    However, I had never sent the acknowledgment slips to the CPC and claimed my refund.
    Please clarify the below questions.

    1) Except for the FY 2013-2014, will all the other ITRs be invalid
    2) If they are vaild (got the acknowlegement slip for all the years), can I go ahead and claim my refund?

    • 1) All other ITR will be invalid if acknowledgement is not sent to CPC. But you can try sending the ITR V now & check their response.
      2) If the return is not valid, the refund will not be processed.

  75. I have filed Income tax returns for 2012-13 and 2013-14. Can I get refund for income deducted at source if file returns of both the years within this week

    • You can claim refund on filing the return. even if you file in this week .
      As of now, you can file belated returns for AY 2014-2015 (FY 2013-2014) and FY 2012-013 (AY 2013-2014)

  76. Hi Vivek,

    There is the particular spot I am in. So I had filed my wife’s IT return online in time for FY 2012-13 (AY 2013-14). I had also sent the physical copy but they received it late apparently and thereby rejected it. She is no longer working and I forgot that the tax returns we had filed we had to get refund of around 11,000 bucks.
    Now I have received a reminder mail from IT Deptt..on notice under 245. I thought they just wanted me to file it again (ITR 2 to be precise).
    Now that I logged in to the efiling site to check status today.. I see in the worklist .. demand claim for 2010-11 for Rs 16190 u/s1431 (a). It says demand determined by AO and rectification status CPC. I dont recall ever receiving a mail for this demand in 2011 or thereafter. This was when the ITR was filed manually (so i need to rechek what’s the problem) over 3 years ago. But now I rechecked the emails and I do see the previous mail they sent last February (not in 2011, 2012, or even 2013) saying we received call for refund (AY2013-14) and it would be adjusted against the previous demand of Rs 16190. Whoosh.

    1. What exactly they want me to do now.. My reading is that..(a) if I am accepting the demand request.. they want me to refile the ITR 2 for last year to take into a/c the demand claim and so on.. (b) if i am not accepting the demand call..what do i do..I don’t see any details of the reason for tax demand online?

    2. What is the process I need to follow now in case of both (a) and (b)? Is there anyway I can do this online..? I don’t have time to engage with long haul process going to their office and doing the rounds. I dont mind paying whatever net they are asking me to pay and get over with this (unless its compunded and grown large).

    Thanks

    • 1) it is not necessary that the demand for 2010-2011 is raised in that years. normally there is a time gao between return filing & demand.
      If you can see the demand online, you can request for intimation so that you can see the details of how the tax is calculated.

      2) you should anyway file the ITR for AY 2013-14 & claim the refund.

      3) you can pay the nety amount directly online against that assessment year or demand notice.

      https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

  77. Sir,

    I submitted TDS return AY 2014-2015 on end of 2014. When i will get refund?

  78. hey Vivek ,

    I did file my return for the FY 2012-13 on time but did not send the printed copy to Bangalore Income Tax office that year . What are my options now? Refile , or just simply send over that document .

    Also , what will be the consequences . What penalty amount would I need to pay ?

    • Hi Ravi, for FY 2012-2013(AY 2013-2015), you can file belated return till 31-3-2015.
      As you have not send the ITRV previously, the return will be treated as void.
      So, you can try filing the belated return again by 31-3-2015

  79. Hi Vivek, Nice to see lot of IT related questions answered. I have a question. .
    I was in US for 2.5 yrs.. ( Sept 2011 – Feb 2014 ). For the period of Apr 2011 till Sept 2011, The tax that was deduted is 7209. I some how forgot to file for the AY 2012-13. When i tried doing the E-file now, It says its not possible.. But i am showed that i am getting a refund of 7209 completely.. Is there anyway i file it manually ( not through online ) and get that refund amount ??

    Expecting an quick reply from you my frnd. 🙂

    Regards
    Vasu

  80. Can i file return for ay 11-12 and ay 12-13 now???

  81. I am NRI and have following income : fig in INR (000)
    F.Y. 2012-13 F.Y. 2013-14
    NRE A/C NRO A/C NRE A/C NRO A/C
    Interest on Bank FD and SB A/c 61 5 53 8
    Dividend on Equity Shares 22 12 26 13
    Dividend on Equity Oriented Mutual Funds 37 0 0 0
    Long Term Capital Gains on sale of Units of above MF. 377 0 2256 0
    Shop Gross Rental Income 0 96 0 106
    Interest on PPF 0 9 0 10
    *Notional income on second Flat used by us
    *unable to calculate income as Rateable Value of Flat
    is not published by Mumbai Municipality due
    change in M.Tax calculation system from Rateable
    Value to Capital base value.
    Please let me know how to calculate Notional income.
    Please let me know whether I should File belated I.T. Returns.
    Regards.

  82. I AM FILING MY RETURNS SINCE FY 2004-05 up to 2014-15. Except year 2009-10 & 2011-2012 Amount TDS deducted in excess was also refunded in part or full as eligible by Income Tax Department every year except FY 2009-10 & FY 2011-2012 as the returns were not submitted.
    Is it possible for me to submit the ITR now and claim my refund for the Year 2009-10 & 2011-12
    Best regards,
    N S BABU

  83. Hi Vivek,
    I need your help for Tax Assessment + Compliance , Is it pozsible to speak to you, Could you Kindly mail me your Contact No or Email ID
    It’s for my Father in law and Presently I m not in town ,
    Little Urgent
    Many Thanks,
    Sudhir

  84. Dear Mr. Vivek,
    I have received Form16 for FY2013-14 for salary/earnings as per the offer/appointment letter from my ex-employer; but no salary has been paid by my ex-employer for the tenure of my employment. The ex-employer has also credited (late) the TDS to the IT dept. in Dec-2014, and the same can be seen in the From26AS in TRACES.
    1. Do I need to file a revised returns for FY2013-14 in view of same?
    2. Should I communicate to IT Dept. about having to pay Tax for earnings/Salary NOT received?
    3. What actions can I take to resolve the situation?
    I have already asked the ex-employer to pay the pending salary and clear other dues.
    Kindly provide your thoughts and inputs. Thank you for your time and appreciate your support and feedback.

    • Unfortunately you are in difficult situation. As the Income tax need to be paid on accrued / paid basis whichever is earlier.

      1. Did you file the return for FY 2013-14? If yes, did you claim the TDS then (maybe no). Did you pay extra tax then ?

      You can revise your return & claim the TDS.

      Regarding Salary not paid, I donot think IT dept can help much in that aspect.

  85. I could not upload my HRA investments (lease agreement) on company’s portal, and now the last date of submission has expired.
    What should be done during filing of my Income tax returns? Can you let me know the procedure.
    And whether Lease agreement is enough to show proof for HRA. Do i need to submit the reciept too??? My andlord does not give any reciept, as the rent is transferred online, and we both live indifferenr cities.

    Best regards
    Rupal

    • Hi Rupal,

      If you have not claimed the HRA, you can always claim it while filing the returns. the only challenge will be that your taxable salary as per Form 16 will be different from your return and that may trigger a scrutiny of your return.

      For claiming HRA exemption, if you are paying rent more than Rs 8333 per month, you also need to obtain landlord’s details & his PAN details.

      http://wealth18.com/new-rule-for-hra-exemption-landlords-pan-must/

  86. I have not filed my ITR for AY 2013-14 and 2014-15 since my employer has not deposited TDS with the Govt. and, therefore, has not issued Form 16 to all the employees. What action can we take in the matter before the deadline of 31st March 2015 expires?

    • Hi Sudhir,

      You can submit the return claiming the TDS amount as shown in your payslips, As it will not match with Form 26AS, but still you should submit the return with Salary & TDS details.

      If an enquiry come from IT deptt, you can write about employer not paying the TDS amount.

  87. Hi Vivek sir,

    In my case the return was filed for FY 2012-2013, even when the ITR was showing ‘Tax Payable’ as non-zero. However, the ITR-V wasn’t received at CPC.

    I got an email from CPC saying ‘Non-receipt of ITR-V for AY 2013 at Income Tax Department CPC, Bangalore’.

    My question is :
    – Can I file a fresh return now?
    – If not, how should I pay the tax and attach the challan?
    – Will the system allow me to modify the original ITR form.

    Thanks in advance.
    Rohit

  88. Hi ,

    I want to check on all tax returns that I woud have filed over the years. They were not filed online. How and where can i get these details

  89. One of my relatives was working in a job with a petty amount @ Rs. 2000 p.m.. Her job was confirmed recently and was given Rs 4 lakh as salary of 13-14 in Apr 14 although Form 16 was dtd. 31.03.14. Her income shd be counted in FY13-14 or 14-15?

    • It should be treated as income for FY 2013-2014 (AY 2014-2015). the last date to file return was 31-7-2014.
      However she can file belated return now.

      • Thanks for quick reply. Another solution plz – if employer does not deduct due IT monthly/quarterly (instead does for whole year at one go on 31 Mar), will the onus shifts to employee for timely payment as per advance tax due dates ? In such case, when belated return being submitted now, 1% interest will be due from advance tax due dates or return due date?

        • It is duty of employer to deduct TDS on the Salary income. If there is any other tax due, then the interest needs to be paid from return due date.

  90. Dear Vivek,

    I sold land for 14 lakhs and after indexation, capital gain works out to be 13 lakhs. I want to invest in capital gain bond u/s 54EC. Should I invest the entire sale amount or I can invest only the capital gain amount.
    Request your guidance.
    Thanks,
    Joginder

  91. This is related to AY 2012-13. I filed e-return on date 02/07/2012. But i did not sent ack. form to CPC.

    On 27/07/2013, i wrongly filed e-return for year AY 2012-13 instead of AY 2013-14. And ofcourse it was revised one of previously filed return on date 02/07/2012.
    Now because i filled all the income data from 2013 form 16, about Rs. 2000 tax was impose on me, which was actually “ZERO” in the original form
    After that i realize that i file wrong AY, i choose the new form and filed correct return for AY2013-14 and onwards.
    Now the problem is, i got continuous mails from CPC of not sending the ACK form for AY 2012-13, and now i got the final notice to sent the same otherwise they treated it as a “e-return filed was never furnished”.
    What should i do now:-

    1) Should i get any financial penalty on me if i still ignore notice as in original form income tax is 0 for me.
    2) should i again upload another revised form and get sent new ack form to them?
    3) Should i send the ack form of original e-return file.
    4) Any other way, you want to suggest me.

    • 1) As you did not sent the earlier ITR for AY 2012-2013 in time, it was anyways void and deemed to be not filed.

      When again you filed return for AY 2012-2013, it should be belated return rather than Revised return. You can try to revise it again, but it may not allow as Belated return cannot be revised.

      Try revising that return first. if allowed, then send the acknowledgment for latest one.

  92. Sir,
    i m salaried person, can i file nil income tax return last 2 yrs ( 2012-13 & 2013-14). if yes so what is the process? salaried income not taxable.

  93. Hi,

    For a new pvt ltd company, going to be incorporated in march 2015, When should it file the IT returns ??
    Is it necessary to file IT returns for just one month even though there is no profits gained ?
    Kindly explain the different options in here.

    Thanks

  94. Hi Vivek,

    Many thanks for all the clarity/insight you have been providing on the subject.
    It is of great help.

    My query :
    This is for FY 2012-13(AY 2013-14)

    In the section ‘How to file belated return after ue date’, You have mentioned that No major

    difference.
    One need to mention return file section code 12 -139(4)

    I am trying to use the java(ITR utility) to file the return online for FY 2012-13(AY 2013-14).
    Now the application is pre-configured to take AY as 2014-15.
    I.e I can’t mention the Accessment year as 2013-14.

    I was thinking that I should be able to mention the AY as 2013-14.
    Or
    Is it normal for a belated return that, irespective of the FY( i.e. 2012-13) the AY will be the

    current AY(i.e 2012-13).

    In addition I have some refund which was deducted from FD TDS. Will I be gettig it back.

    Regards
    Susanta

    • Hi Sushant,

      You need to download the ITR Java utility for that assessment year .In the income tax efiling website, on right hand side there is an option to download previous year ITR.

      • Many thanks Vivek for the guidance.

        It helped me to file the belated return for FY 2012-13(AY 2013-14).

        Here is my experience.

        I downloaded the Java utility for the above period. However I found the Java utility to have issue. It kept on giving wrong validation errors (i.e. First name should be less than 25 characters, even though it was less than 25)

        So I downloaded the Excel ITR 1. Which worked smoothly and after generating the xml, I uploaded it into the e-Filing website.

        Lately I learned that I could have done the belated return on line as well. I.e. whatever I had filled in the excel, I could have done the same in a on line form. So the intermediate process of generating an xml would not have been necessary. While filling the online form I have the option to choose the Assessment year.

        Thank again for the great help.

        Regards
        Susanta

        • great Susnta for finding it useful.

          Yes for ITR 1 , you can file it directly online without going through excel option.

  95. Dear Mr. Vivek,

    I received intimation u/s 143(1) for tax return filed on line for A.Y 2013-14, showing tax demand of Rs. 20000/= . We had claimed TDS 60000/= as per TDS credit available in form 26As but CPC has allowed 40000/=. The reason stated is TDS 20000/= not matched.

    on checking schedule S2 in ITR2 filed by us, it is found that under one deductor TDS amounting to Rs. 20000/= is shown by us but financial year entered is 2011 as against 2012. All other TDS entries show financial year 2012 and are accepted.

    My query is under which option should I file rectification to correct financial year to 2012 from 2011 in schedule S2

    Thanks and Regards,

    Joginder.

    ,

    • Further to my above query, I noted that both in form 26As and under the tab ” TDS MISMATCH” under my account in incometax website , TDS claimed fully matches with tax credits available in form 26As for financial year 2012. Since they give TDS credit as per form 26As, there is confusion in my mind about the option to be used for filing rectification.
      Your guidance will be highly appreciated.
      Regards,
      Joginder

    • Hi, maybe you can try to file revised return.

  96. I have been unemployed since April 2010. Since then I have had no source of income and am only living on past savings from salary. I filed a return only for AY 2011-12. I havent filed IT returns for 2012-13, 2013-14 and 2014-15 as my income was nil and I was surviving only on past accumulated savings. What do I do now?

  97. Hi,

    I purchased a property with my CA which is now under dispute. Now he is blackmailing me to report old transactions. Kindly specify how many years back the I T deptt can probe and reopen cases. Thanks in advance.

    • Hi Karan There are various scenarios, where the assessment can be done upto 6 years.

      Some assessment can be opened for 16 years, only if the income is in relation to any asset (including financial interest in any entity) located outside India.

  98. Hi Vivek,

    I had filed returns for the AY2014-15. I recently got an intimation from CPC, that certain demand is determined. When i checked 26AS, i saw there were some TDS that was left out by my employer in Form16. I have the revised form16 from my employer now. Should i file a revised return on the original retrun or should i file a rectification request?

    Thanks in advance for your help.

    Regards,
    Praveen

  99. sir one of my friend wants to appear as ADJ and the one clause states that in case of non income tax assessee the candidate should give year wise details of income for last preccedding 3 years.being advocate income of that friend is below 2 lakh per year.he dont possess pan card neither filled IT.AS INCOME IS BELOW 2 LAKHS.WATS REMEDY IF ANY TO FILE RETURNS OF LAST 3 YEAR.AND HOW AND WAT TO SHOW .PLEASE KINDLY SUGGESTS EFFECTIVE MEASURE.
    THANKS

    • even if the income is below Rs 2 lakh, you can file the returns. As of now you can file belated returns for AY 2014-2015, AY 2013-2014

  100. RESPECTED SR I HAVNT GOT ANY REPLY FROM YOURSIDE RELATED TO ABOVE MENTIONED COMMENT

  101. ashish kamthania

    respected sir,

    namaskar and happy holi,

    One of my client missed to file itr for a.y. 12-13 and hir income is rs.85000.00 as commission income and tds rs.8500.00 was deducted by the job provider.

    Can I filed itr for a.y.12-13 and claim 8500.00 refund.

    please reply me soon.

  102. I have nontaxable income from last three years
    I had not filled my return so fanow I want to file all my returns from last three years kindly guide

  103. Hi Sir,

    I have applied for my Pan card on Feb “15”.I am expecting that it will be received on 25th march 2015.Please let me know can i file my Income tax returns for Last two years(i.e) Assessment year: 2013-2014,2014-2015.I am waiting for your valuable reply.

  104. Hi Vivek,

    I got a notice for non -filing of returns for AY 2011-12 . Actually I quit my job in dec 2010 and joined another company in april 2011. I did not get the form 16 from previous employer till recently , hence could not file the return and I was also careless in assuming that nothing would happen. When I saw my form 16 for AY 2011-12 later , it had following details :
    Gross salary : 633,033
    Allowance under section 10 : 70062
    deductions under section 80 c : 100000
    total income (taxable) : 462,980
    TDS: 39,500

    The catch here is that though I declared that I will invest 100000 in 80c , but in actual I didn’t do so.
    My questions are:
    1) How will income tax dept know that I actually invested in 80c or not? Is form 16 a sufficient proof . It is mentioned that in section 80c -> LIC , i have invested 100,000.
    2) In case I have to pay penalty , how would I know what amount to pay? whom should i contact? I have replied to the notice online by saying that my taxable income is less than 500,000 hence i didn’t fill the return but despite that I got the same notice second time.
    3) There are some transactions shown like credit card bills of 200,000 paid. Do I need to worry about providing details for those?

    Thanks ,
    Gaurav

    • 1) If your ITR come under scrutiny, they may ask for proof for deductions claimed. Otherwise they will not be able to know whether you invested or not as long as Employer has allowed the claim and mentioned in Form 16.
      2) You can reply to them that all Tax was deducted and therefore no ITR was filed. You cannot file the return now for that year.
      3) These transactions just shows that IT dept has this information and you just need to select “SELF” there.

  105. I GOT A LETTER FROM IT DEPARTMENT TO NOT FILLING IT RETURN FOR THE YR 11-12,12-13,13-14.
    IS IT POSSIBLE TO DO IT NOW & IF POSSIBLE WHAT IS THE PENALTY.

    • you can only for returns for AY 2013-2014 (till 31-3-2015) and for AY 2014-2015.
      If any taxes were due, you need to pay interest @1% per month.

  106. Hi,

    I did the return file of assessment year 2014-15. Now I know that house rent also can be considered in the expense. So what I want to know is can I resubmit the return with rent slips?

    Thanks.

    • Hi Ajay,Are you salaried employee or selfemployed.
      If non-salaried then you can claim a maximum of Rs 2000 per month u/s 80GG.
      If salaried,then you can claim the amount based on HRA paid.

  107. Hi Sir,

    I have applied for my Pan card on Feb “15”.I am expecting that it will be received on 25th march 2015.Please let me know can i file my Income tax returns for Last two years(i.e) Assessment year: 2013-2014,2014-2015.I am waiting for your valuable reply.

  108. Hi Vivek,
    I got outstanding demand notice for tax recently,

    While checking form us143 (1) form I got to know that it is due to TDs mismatch for AY 2012-2013 which returns filed by me,
    Further to investigate , I found I put my AY year wrongly , it should be AY 2013-2014, and so CPC has calculated tax credit as zero ,
    As per my 26AS form and firm 16 of AY 2013-2014 is perfect and captured all TDs credit ,
    Plz help me how and what field should I choose in rectification form to resolve this issue or correct my AY to reflect correct TDS in 143 form ?
    Thanks in advance ,
    I am a salaried person ,

    • Could you please let me know, where did you put the Assessment year wrong ? in which section of Income tax form ?

      For which year are you filing the income tax return ?

      • Hi Vivek, I simply filed ITR on 2013 ,

        As I could able to check ,I had form 16 from Employer for AY 2013-14 but I filled returns for AY 2012-13 ,

        Pls find below copy paste of details ( Details of ACK number )

        29/07/2013 Return Uploaded ITR-V / Acknowledgement
        ITR/Form
        09/10/2013 ITRV Received
        Receipt
        14/11/2013 ITR processed demand determined

        Form 143 (1) input

        Amt Claimed 32,316
        Amt Matched 0
        Amt Mismatch 32,316
        TDS Type TDS1
        AY 2012
        Valid Tan Flag Y

        Plz help

        BR,Suman

  109. Vivek,

    Thank you for your posts. It has been a huge help to me. I am currently out of India, but need to file returns for AY 2013-2014. Can I do this online? As in fill out the ITR online? Or should I download the excel and follow the instructions here?
    The reason I asked is if I do send it out by post , I am not sure it will reach CPC by the deadline of March 31st. I am unfortunately still waiting for the bank to respond o my request for Form 16A.

    Thanks.

  110. Q1. If my dad gave me some (3 lakh) money and i made fix deposit and earned 30 thousand as interest then should I pay income tax on fix deposit interest (30 thousand) or on whole amount (3 lakh + 30 thousand ) ?

    Q2. What to do if I forgot to mention incme from other sources (Fixed deposit ) in ITR for FY- 2013-2014 ?
    Can I pay it now? If yes how to pay it. Can I pay online if possible? After paying what action should I take to notify income tax department ? Do I have to give any penalty or additional amount. If yes what is that amount ?

    Please provide quick response as I need your immediate help.

    • 1. You need to pay the tax on the INTEREST only.

      2. You can revise the return and include the interest. Then you need to calculate the revised tax & Tax paid. Any balance tax can be paid online against that Assessment year. You need to then enter the payment information in the revise Income tax return and submit the revised return.

  111. Hi Vivek.
    I joined a new company on 8th April 2013 and I did not get the Form 16 from the previous employer.
    My last working day on the old company was 21st March 2013. So i missed filling ITR for that year.
    I got a notice from IT deprt to file ITR for AY2013-14 before 31st March 2015. I still dont have form 16 and chasing the previous employer for that. But I have downloaded the Form 26AS for AY 2013-14 from TDS site and that is exactly matching with my payslip for the entire year. Could you please let me know how i can file ITR for AY2103-14 online.

    Regards
    Abhishek

    • Apologies I missed your query. It is quite late to respond as the return could be filed only till 31-3-2015.
      Did you managed to file the return.

      Apologies once again.

  112. Dear Sir, I need your advice on following matter
    After my studies, I left for Australia on 05 Oct 2013 on a job with a global IT company (stay in Australia is 175 days in fy 2013-14) . Also I have some FD in indian banks in my name done by my parents , also a PAN issued in India but income below taxable limits . Before going to Australia , SBI India allowed me to open a NRI NRO A/c for me in Sept 2013 based on employment letter from Australia. Do I need to fill IT return in India for fy 2013-14 and if yes which form and where to show salary from Australia and tax exemption for the tax deducted by Australian govt

    • Rajan, Apologies somehow I missed your comment as there were long outstanding queries.

      have you filed the return now ?

  113. Hi,

    I have a query for you and I would be grateful if you respond to it.

    I work for a MNC and I had to leave India on 6th October 2012 for an overseas assignment. As per my company policy my salary for October was credited in my India bank account and from November Indian payment stopped and I started receiving salary in my overseas bank account. For the duration Oct 12 to Mar 13 my company continued to deduct TDS from my salary. For the same period (Oct 12 – Mar 13) I paid overseas tax on my salary which was credited to my overseas account.

    As I am still outside India I didn’t get opportunity to submit ITR for FY2012-13.

    My queries are –
    1. Can I submit ITR now?
    2. Can I claim tax refund for the duration 6th Oct 12 to 31 Mar 12 as I paid double tax?
    3. For the same duration I have some income from bank deposit (nominal amount), how will that be treated in ITR?

    Thanks for your help in advance.

    • 1. You can file return for FY 2012-2013 (AY 2013-2014) by 31-3-2015 as belated return.
      2. You can just show your Indian income for that FY and claim the TDS deducted.If TDS is deducted more, then you cal claim refund.
      3. regarding the FD income you need to show them as Income from other sources. Also, Saving Bank Interest need to be shows as Income from other sources.

      But for Saving Bank interest, you can claim deduction u/s 80TTA upto rs 10000. There is no deduction for FD Interest.

  114. Dear Sir,

    I did not return file for the year 2007-08 and 2008-09. i asked my CA to fill the form but did not file. is it possible to me get my money and is it possible to refund plz reply on mail address.

    with love and regards
    desai

  115. hello vivek ji,
    I did intraday commodity trading on MCX during 2010_11,2011_12 n 2012_131with heavy volums, made loss during 2010_11 and did not file return. during 2011_12 earned profit ofr rs 1.14 lacs and filed itr iv again during 2012_13 made loss and did not file. return.
    I also had int income of rs.15 k,21 k and 25 k during these years.
    Received notiuce fm incomet tax dept fort. non filing of in come tax retn for not filing income tax retupn for fy 2010_11 n 2011_12 /information code CIB-502 /descripion – contract of rs.10 lks or more in the commodities exchange. su bmitted response – no taxable income. again dauring Dec 2014 received similar notice from ITO of my ward and visited him personally. he asked to submbit in writing my reply. I submitted the same.
    now I have received notice from the ito of. my ward – notixe under sec 148 for escapement of income for A y 2011_12 n A Y 2012_13 Requiring me to submit a return in the prescribed form.
    pl advise me 🙂 shall I file return itr 4 mannully for AY 2011_12 and submit hard copy to ito and -for AY 2012_13 itr already filed and processed be filed agiain or ref of earlier filed itr be submitted. will it be return under sec 148. pl advise in which colmn of itr 4 , the loss is shown. shall I dou it myself or hire legal expert, for A Y 2013_14 will it be belated return under sec 139(4)
    waiting eagrly ur valuable advice.
    thanks and regards
    nishant

    • Hi Nishant,

      If you are not comfortable with tax matters or cannot visit the IT office personally, may be you have take help of your local CA.

      For AY, for which you have already filed return, you can give reference that return was already filed and provide the acknowledgement

      For other AY, you can file the return manually and send it to ITO. It will be under notice under section 148.

  116. Hi Vivek

    I have received a mail as well as SMS from Income Tax department to file ITR for AY 2013-14.
    When I logged in Dept’s site I saw information summary CIB-502, STT-01,02,03,04,05 is mentioned.
    My details for AY 2013-14 are as follows-
    Interest income=1,55,000/-
    Rental income = 24,000/-
    Short term capital gain from sale of equity shares 0n recognized exchange=5144/-
    Loss in intraday trading = -7001/-
    Payment of premium to LIC=11900/-
    So my total income is less than Rs. 2,00,000/-.

    Now my queries are- do I need to file ITR?
    If yes do I need to file ITR-4 as I do lots of intraday and positional trading in equity and commodity though my turnover is well below 20,000,00 though my main source of income is from interest and rent?
    Is everybody trading in equity, commodity or currency bound to file ITR even if total income is less than total taxable income ? or I got the mail to file ITR because once I acquired shares worth more than a lakh in a company ?

    Thanks and regards
    Jai

    • Hi Jai, There is a fine line between business income / capital gain for Share trading. Normally, in case of derivatives trading, it is treated as speculative business.

      In case of business, of the income is shown below 8%, then books of accounts as well as audit need to be done.

  117. Hi Vivek

    Another query is do I need to get my books audited under section 44AD if my income from trading business is less than 8% of the total turnover of Rs. 191880/- even if my net income is less than the taxable income i.e. Rs. 200000/-

    Thanks & Regards
    Jai

    • Hi Jai,

      Derivatives transactions are treated as Speculative Business Income. Therefore, if the Profit is shown as less than 8%, then you need to maintain books of accounts & get it audited by CA. Alternatively, you can show profit as 8% and pay taxes accordingly..

      This is common problem faced by many people who has profit / loss from Derivatives trading. as this is termed as Speculative business.

      Many people just enter these under Capital Gain & file ITR 2. But this is not fully correct.

  118. Dear Sir,
    One of my senior colleague’s tax due for the f.y 2012-13 and f.y 2013-2014 is unable to pay tax within 31-03-2015 so what will be way out please suggest

  119. Hi,

    2 of my friends used my PAN number to escape from HRA.
    They have cobined claim HRA of 370000 rs.
    i got notice from IT department.
    How much tax should i pay, is there any way to reduce this amount?

  120. Dear sir,
    I have not filed my return for A.Y. 2014-15 before 31-3-15. and now the date is 01-4-2015.
    I have already deposited the tax due with interest before 31-3-15.
    Now what should i do?
    is there any penalty for late filing of return?

    Please reply on my mail id.

  121. Dear Vivek,

    I have been unable to file my mother’s income tax return for FY 2012-13 and FY 2013-14. I also received a message on my mobile from the income-tax dept. stating to file the return for FY 2012-13 before March 31, 2015. Since we were out of Delhi for the last 4 months I could not file her return before the stipulated date. Is there any way by which the return can be filed now. Kindly advise.

    Thanks and regards
    Harpreet

  122. Hi during the period 2014-15 I have worked in 2 companies, my first company has deducted income tax from my salary every month, but I forgot to take from 16C from them. Now in 2nd company I worked for only 2 months but they have not deducted tax since I had shown various savings under 80C. How should I file the return now?? And can someone explain that do we need register seperately for activating FORM 26AS, ??

  123. Dear Sir,
    A Firm could not file the return due to changes in partnership for the assessment year 2013-2014 on or before 31st March 2015. What is the procedure to file the return. For the assessment year 2014-2015 is not filed.

  124. Hi Vivek
    I am a salaried person and have submitted the ITR-V form fpr AY 2014-15 through net, taking help from one of my colleague. I feel it needs correction and as, he has shown some extra figures under the Deductions (chapter VI A section). can this be corrected now and what is the method to calculate the interest for paying the balance tax late.
    Thanks
    Saumuen

    • Hi, You can revise the return for that AY. You can do so at the Income tax efiling site by submitting the return for that AY. While filing the retun, you need to select that it is the revised return.

      The interest will be calculated automatically, which you can pay via Challan 280 at NSDL website.

  125. I am Salaried person, But I do not come in income tax slab, so I never filed ITR & never asked my employer for form 16.
    Now I want to take a loan. When I contacted bank person they asked me about ITR.
    So Can I file ITR for AY 2013-14 & AY 2014-15 now and if I have to pay any penalty then what is it. I also have account in two bank where some time I also applied for E-FD. So should I attach from 16B also.

    Kindly do the needful.

    Regards
    Aashish Kumar

    • Hi Aashish, You should atleast get Form 16 from your employer

      You can file return for these years now

      AY 2015-2016 (FY 2014-2015)
      AY 2014-2015 (FY 2013-2014)

  126. Sathya subramani

    Hi,

    For AY 2013-14 my salary is above 5 lacs. I failed to file returns online.
    Can i file manually now in IT office.

  127. sir i have deposited my form 15G in may month last year but my tds has been deducted , so i want to know how can I file a itr so that I can get my money back of last year and last to last year also….

  128. Dear Sir – I got the notice the notice for non-filing of IT return for AY 2013-14, I’ve submitted the compliance report as instructed by the Income tax through mail. I’ve also got an acknowledgement from the Income tax for the compliance submission as below:

    Your compliance has been successfully submitted and the Transaction ID is 2021083826.
    The Acknowledgment Number is 11198072170315.
    In case there are any discrepancy, a notification will be sent to your registered e-mail. Kindly check for email from e-Filing.
    This is a system generated e-mail and please do not reply. Add donotreply@incometaxindia.gov.in to your white list/safe sender list. Else, your mailbox filter or ISP (Internet Service Provider) may stop you from receiving e-mails.
    Regards,
    e-Filing Team,
    Income Tax Department

    I also understand that now I cannot file the return for the AY 2013-14. Please advise what to do now… Thanks

    • Hi Bobby, once you have submitted the compliance report, you cannot do much for AY 2013-14. As you cannot file the return for that year now as it is time barred.

      What you can do , is check the tax for that year offline and see if you have paid the right taxes. If there is any tax due, you can deposit the tax directly for that Assessment year (without filing the return)
      You can deposit the tax by filing challan 280 on nsdl website.
      https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

      • Thank You Mr. Jain!!

        All my taxes applicable are deducted at source by my employers, and even for interests on my savings account, deposits etc. etc. are also subject to TDS. Apart from that I do not have any other source of income. My credit card spends may or may not have crossed the limits but all transactions are transparent.

        The earlier acknowledgement from IT on compliance report also says “In case there are any discrepancy, a notification will be sent to my registered e-mail” Does that mean that if I do not received any notification from the IT, I’ve paid the right taxes???

        Would request for your advise on the same. – Thank You

        • Hi Bobby,

          They may not sent you the notification, but if you have paid all the taxes then there is no need to worry.

  129. Dear Sir

    I posted a query which was pending moderation and was seen on this page. I was waiting for a reply however it is not seen on this page today.

  130. Hello Vivek,

    I have filled the return for AY 2013-14 before due date 31st July 2015. However I missed to enter my income for the month March 2014. As I have moved to a new company in March, they did not deduct the tax as the income was less the 2.5 lac. I am responsible to pay the tax for it actually if I combine my income for the whole year. How can I submit this tax. As per your article, I believe I can file a another return for that income with an interest. Please let me know the procedure I can do this.

    Regards,
    Ganesh

    • Hi Ganesh,
      Could you please post the right year & dates. If you missed March 2014 income, it means you are talking about FY 2013-2014 (AY 2014-2015) . You would have filed return before 31 Jul 2014.

      You can file the revised return & include the income and pay the taxes (with interest) accordingly.

      Revised return can be filed similar to normal filing of Income tax return online. You just need to select right code in the form.

  131. for AY 2013-14 how do I file the return now.. website says it is time barred.

    • You cannot file the return for AY 13-14 now as it is time barred. You could have filed the return till 31-3-15

  132. POOJA KEWALRAMANI

    Sir,

    I have last filed my return of A.Y. 2008-2009. For Some reasons I could not file thereafter.
    For how many years can I now file return… Will I need to pay any additional interest or penalty.

  133. Hi,

    I have a query with regards to HRA deductions.

    Could you kindly give me a clarity as to why 10% of my basic salary is reduced from the actual rent amount paid my me.

    Regards,
    Ravi

    • HRA deduction is given under Section 10(13A) of the Income Tax Act, in accordance with Rule 2A of the Income Tax Rules.

      When the employee is occupying a rented residential accommodation, the amount of house rent allowance received by him is exempt to the extent of least of the following amounts:

      a) 50% of the salary where residential house is situated at Bombay, Calcutta, Madras or Delhi and 40% of the salary where residential house is situated at any other place.

      b) House Rent Allowance actually received by the Employee in respect of the period during which the residential accommodation is occupied by him during the year.

      c) Amount of rent paid in excess of 10% of the salary.

  134. Sir,

    1) I was cheated by my CA who has been filling wrong returns and was not submitting any challans at bank for me and my mother. I was giving him money sincerely. I recently retrieved my password of income tax site for which he was making excuses whenever i asked.now i found out the real reason.

    2) Payment of Tax challans was evaded for FY 12-13,FY 13-14,FY 14-15, along with wrong gross income in returns.
    Source of the income was -capital gain on sale of agricultural land,house property and bank interest

    3) I also received a notice from IT dept. on Aug,2014 for FY 12-13 under section 139A(5) and 272B to which the CA replied providing my Pan copy and ACK. NO. of the FY 12-13 return which does not show any capital gain.Also, now i saw my compliance form on income tax site and it has information code AIR-001 and TDS-194A for FY 12-13

    I don’t have that much money to pay all over again now i.e after adding interests, but given some time i can arrange the money and i am also thinking of filling complaint against the CA but am afraid if he tells IT dept. i wont be able to buy time to arrange money or should i disclose my situation to IT dept. myself if they will understand.

    please suggest

    • Hi Rohit,

      1) First generate Form 26AS to see how much tax is paid for each year.
      http://wealth18.com/check-or-view-your-tax-credit-form-26as-online/

      2) Do you have copies of returns submitted for those years?

      3) Talk to your CA or visit their office to solve the matter.
      In extreme case, Send communication in writing to your CA explaining the situation. Send an email as well as registered post.
      Tell then if they donot respond, you will complain to ICAI. ICAI is CA membership body which grants practice certificate.

      How much is the amount involved i.e. if you have to pay again ?

  135. I have given my ITR filing to MoneyPlant consulting for AY13-14. There was some extra amount that i was required to pay and after I did the payment to Income tax department I Provided them with the challan Number. After Couple of follow up mail send to them they replied that my ITR was filed. Now when I check the Income tax site for my returns I am not able to find the ITR for AY 13-14, all other years ITR is present on the site. When checked with MoneyPlant they are saying they have filed it, can’t provide any soft/hard copy. What can I do in this case? and do i need to file my return again for AY13-14.
    Please advice

  136. hi, at present I want to file ITR for fy 2012-13, I have form 16 and wanted to claim refund based on this.
    Any option for this?

  137. Hi

    i want fill return of Year 2013-2014 .can i file the return on june 2015 ?

  138. Namaskar Mr. Vivek ji.,

    I have one small doubt., since many years my company was regularly deducting TDS-salary, but till date i never filed any
    itr, Till today i never served with any notice for non filing of the same… is there any problem in future, but my complete salary is taxed and i have no other source of income… kindly suggest plzz

    • Dear Mr Rao,

      Even if full TDS is deducted, it is the responsibility of the person to file the income tax return. You may not have got the compliance notice if you have not registered online on Income tax website or your address is not correct.

      In future, you should file the return.

  139. Good Evening Vivek Sir,
    Thank you so much for sorting out the queries, Thanks……….
    Sir, My monthly sal which is tranfered in my bank a/c is 30K. I just want to confirmed that, can i pay my income tax in the FY 2015-2016, AY would be 2014-2015 Should i am able to file the return as well, Please Confirm the extra charges if any.
    Thanks & Regards
    Bharti

    • You can file the return for AY 2014-2015 (FY 2013-2014) and AY 2015-2016 (FY 2014-2015)

      Please explain your query.

  140. rajib chowdhury

    Mr. vivek,

    in AY2012-13, i paid rs/-2142 as tax and filed return accordingly. inadvertently, i hadn’t showed the details of my capital gain of Rs/-6030(Capital gain on sale of inherited property
    Sale consideration-Rs/-16500000
    Less index cost of acquisition- Rs/-16445750
    L.T.C.G- Rs/-54250(as per the valuation report)
    1/3rd of L.T.C.G- Rs/-18085
    1/3rd of Rs/-18085= Rs/-6030
    Tax: Rs/-603
    E.S: Rs/-18
    Total tax: Rs/-621
    on 1st week of jan 2015, i received a letter from ITO for furnishing details in that regard which i did and told him about all
    the details. he told to pay the due tax. i payed the due tax on 15.01.2015 and gave him the copy of the bank receipt.
    then he told me to file a revised return. but my tax lawyer told me that it could not be filed as the due date was over.
    when i again met ITO, he told me that he could do nothing but send my file for sec 148.

    now my question is what am i supposed to do in case of sec 148? and do i have to worry about this?
    my second question is if i received gift money through check from my brother (which i heard is not taxable),
    do i need to show it in my return? i am an ex serviceman and presently without any job. please guide me. thanks a lot.

    • On LTCG of Rs 54250, how did you calculated the tax of Rs 621 ??

      If the ITO send the notice u/s 148, you can submit the return in response to that.

      If you received the gift from brother in cash, it is not required to declare in the ITR.

  141. Hello Vivek,

    My mother was earning about 1.5 Lakhs per financial year for the last 5 years. She got her PAN card around July 2010. She has not at all filed IT returns.
    The earnings 1.5 L is through monthly salary and interests through Bank Fixed deposits. She used to submit 15G forms in bank to avoid TDS.

    Could you please advice if she needs to file ITR for the past years ?

    Thanks,
    Adiseshan K

  142. Good evening sir,
    I want to file Income tax Return for the Assessement year 2014-2015 with Tax of Rs. 760 by 25/06/2015. I have not paid Tax Amount yet. I will pay it by 25/06/2015 at the time of filling of ITR. Gross Total Income is Less than 500000 and not liable to tax audit Is this Late Return and Late Payment of Tax Liable for any penalty or Interest? Please help me.

    • Hi Arpit,

      As the due date for AY 14-15 was 31-7-2014. Any return file dafter that will be Belated return. You need to pay tax plus interest @1% for each month after Mar 2014.

  143. hi ,pls tell me refund of financial year 12-13 can claim in return of financial year 13-14(as financial year 12-13 is return is time bared and i have refund in that year)

  144. sir
    return of f.y 2013-14 was filled on 31.03.2015 and that return was filled wrongly , for such mistake we have not send a ITR V till 27.06.2015 to banglore. so what are the remedies for such mistake

    • Hi Vijay,

      As the return as filed late, you cannot file the revised return.

      Also if you donot send the ITR V, the return will become invalid and will be treated as no return filed.

      Please let me know what mistake is done in the return?

  145. Hi,

    I need to file ITR for Assessment Year 2013-14(Financial Year 2012-13) . I understand that the due date is way past and I can’t file for belated return as well. What do I do now?

  146. my client is a property dealer, he did not file return after FY 2007-08. He said that he had no Taxable income. now he wants to file a return. Can he do this or have to file belated returns from FY 2008-09 to FY 2012-13.

    • he can only file returns for AY 2015-2016 (FY 2014-2015) and belated return for AY 2014-2015 (FY 2013-2014)

  147. HI,

    MY SALARY INCOME FOR THE A.Y. 2013-14 (FY 2012-13) WAS SUBMITTED ERRONEOUSLY AS ZERO WHILE FILING ONLINE IT RETURN IN JULY 2013. HENCE THE ENTIRE TDS DEDUCTED BY MY EMPLOYER CAME BACK TO ME AS REFUND AND I RECEIVED IT IN APRIL THIS YEAR 2015. NOW I AM SAID THAT RECTIFICATION IS NOT POSSIBLE FOR SETTLED RETURNS BUT A REVISED RETURN IS TO BE SUBMITTED. WHAT IS THE PROCEDURE? THE VALIDITY PERIOD IS GETTING EXPIRED FOR THE REFUND ORDER. PLEASE ADVISE ME, AS I AM A SINCERE TAX PAYEE.

    • As the assessment is already done and refund issued, you cannot file the revised return for that year.

  148. I am trying to file 2013-14 year but it is not taking and showing the comment last date for sumbission is over.
    i selected after due date 139(4).

    after all deductions my salary is 2lack 15 thousand and insurance is 16000.
    i entered 215000 in income chargable under the head of the salaries in TDS section.
    Tax deducted is blank.

    Please advice.
    Thanks,
    Janardhan.

    • If it is AY 2013-2014, then you cannot file the return now as it is time barred.
      Please let me know if it is for AY 2013-2014 or FY 2013-2014?

  149. Hi Vivek ,

    Is there any alternative solution for file ITR for Assessment Year 2013-14 (financial year 2012-2013).
    Please assist me on this. Thanks in advance….

    Thanks
    Nagendra

  150. Hi Vivek ,

    Thanks for the replay.
    There is no refund amount for AY 2013-2014.

    It is mandatory for me to get the Income Tax Verification form AY 2013-2014.
    There is any other chance please let us know.Thanks in advance….

    Thanks
    Nagendra

    • Hi Nagendra, If there is no refund due, then you cannot submit application for delay.
      There is no option to file return for AY 2013-2014 now.

  151. Hi Vivek ,

    Thanks for your replay.

    Thanks
    Nagendra

  152. Vivek Sir,

    I am Housewife & having a income from embroidery work.
    I have non taxable income, so that i have not filed IT Returns since FY-2008-09.
    Now I have received a notice from IT Department for non filing of FY-2012-13 as under:
    “The Income Tax Department has received information on financial transactions/activities relating to you. A list of some of the information for FY 2012-13 is provided below.
    Information Summary: FY-2012-13,Information Code-CIB-502, Information Description-Contract of Rs.10,00,000/- or more in the Commodities Exchange.”

    Kindly assist me on this.

    Thanks,
    Balsjunderkaur

    • Hi Baljinder,

      Based on the information, it seems that you have got notice because of any trading (shares / commodities) done in FY 2012-2013.
      Have you done any such trading?

  153. Venkat Choudhary

    Dear Sir,
    I need a clarification. Till date I am using ITR I form for filing my IT Returns as I have income only from Salary/Pension and Interest from Fixed Deposits. Now I have started on line trading (Karvy Stock Broking) during my spare time and at times I gain some profits. some old shares held by me these past 20 years have been sold now. Am I report my gains under Capital Gains while filing the ITR Return and which form to be used ??

  154. Hi,

    I had filed Returns for the year 2011-12 but the ITRV form was not posted.
    When I check in the incometaxindiaefilling the status for the financial year 2011-2012 was returns uploaded.
    whether I can post the ITRV form (OLD) which I have filed in 2012? or I need to file for the year 2011 again and post the ITRV form?

    • Hi,

      If you have sent the ITR V for FY 2011-2012, then your returns will be invalid. You cannot file the return for that year now.

  155. Hi Vivek,

    Good to see that you are helping out people for IT related queries. Need your advice on the below.

    I am a salaried person and normally have only Income from salary. However I also have some activity in stock market (trading and Investments) which I did not disclose in my IT returns over the year. The reason being a) I did not make profit and did not want to carry forward my losses owing to computation hassels (khaya piya kuch nahin glass thoda bara aane) b) I believe STT is always being deducted on the transactions c) The computation of capital gain/losses is very cumbersome and morally I would be happy to pay tax and take the pain of computing but the point is i did not made money out of market.

    I have received few enquiries on few of my stock market transactions, kindly advice.

    Thanks in advance
    Sanjay Agarwal
    9901915275

    • Hi Sanjay,

      Did you do trading in derivatives ? because those are treated as Speculative transactions and Income Tax dept are taxing those under “Business Income” rather than capital gain.

      Many people are getting notices because of undisclosed transactions in Derivatives segment.

      Please let me know what notice have you received.

  156. Hi,

    I have uploaded ITR of AY 2012-13 & return is zero. But in status it shows only return uploaded & not shown processed.
    So does it mean it should be mandatory to processed or shall send hard copy again to process.

    Pl reply
    Thanks

  157. Hi My Uncle received notice u/s 245 for demand for ay:2010-11.But for ay:2010-11 tds is deducted properly and same matches with 26AS also.He could not make response to IT department in efiling account because to does not filed IT Return for ay:2010-11.Is there any chance to file return for ay:2010-11?.He can’t contact assessing officer because AO is in Mumbai but he stays in Hyderabad.Is there any chance to write letter to AO for mentioning non filing reasons?

    • Hi Varma,

      You cannot file return for AY 2010-2011 now as it is time barred.

      If you have received the notice u/s 245 , there must be some details regarding demand fot hat year or any dues adjustment.

      You may also have received the intimation u/s 143(1)/154. If not, you can request that intimation from your efiling website. It will show the calculation as to how the dues are arrived.

      •If you don’t agree with the tax computation determined by CPC, you can file online rectification

      please provide more details.

  158. Hello. I am a student and did freelancing for TOI last year. Never bothered to pay attention to why 10% of all payments were deducted,till I received form 16 from them, 2 days back. Now, I am completely new to all this. There is no fixed salary but total amount of TDS deducted from July 2014 to march 2015 comes out to be not that larger amount of ~3 thousands rupees. of course I am far far below than the income tax slab.

    now I wanted to know, pardon my ignorance, if I can really get a refund of TDS deducted?
    If yes, would the procedure hassle free and worth the petty amount?
    If it is again a Yes, what do I need to claim refund?

    I am really sorry for my naive queries.
    Thanks.

    • Hi Sahil,

      TDS must be deducted as the payment were treated as professional charged being paid to you. (u/s 194J).
      You can claim refund by filing the income tax return online.

      Filing the tax return online is easy and you can do this free at Income tax dept website –

      https://incometaxindiaefiling.gov.in/

      Normally for business/profession, you need to file ITR 4, but in your case, you may treat it as Other income and file return in ITR 2A.

  159. Hi,

    I submited the ITR-1 via online submission method for asssessment year 14-15 on 17-07-14. Now when i check the Status online, It is Defective as the ITRV was Rejected and the reason is Unsigned ITR-V.

    Though the date of receipt is 19-09-2014 and on 22-09-2014 i get another email with a subject Receipt of ITR-V at CPC

    I have not received any further email on this, please guide how to get this resolved. what is the correct procedure?

    Regards,
    Nimisha Chauhan

  160. I did not submit IT returns for FY 2013-14. Can i submit IT returns fo both FY 2013-14 & 2014-15 at the same time. If yes, how to do it.

  161. Namaskar

    I am a house wife, have done intra-day trading of shares in year 2012-13 lost large amount in trading, because of loss i have not filed the income tax return. now i have received a notice from income tax department with information code STT-01, STT-02, STT-03 and CIB-502.Please suggest what to do and how i furnish response in the compliance mode.

    • Hi Manju,

      How much trading you have done? What is the gross notional value (both buy & sell side)
      Do you have any other income?

  162. Dear Vivek ji,

    I am 66 years old. I last filed my ITR in 2005 when I was in regular employment. after 2regards,005, I have worked basically as a free lance consultant in garment manufacturing field with an income of between 1.50 to 2.50 lakhs per year. Now I am required to go to USA in January 2016 to meet and discuss business proposals. I require 3 previous ITR for 2012-13,2013-14 and 2014-15. Can I file the ITRs(even if it required paying a penalty)
    regards,
    sinha

    • Hi Sinha, You can file return till one year from the end of relevant assessment year.

      FY 2014-2015 (AY 2015-2016) – by 31-3-2017 (belated)
      FY 2013-2014) (AY 2014-2015) – by 31-3-2016 (belated)

  163. Hi I haven’t filled my ITR for assessment year 2013-14.Now I have received a notice from Incometax department for not filling ITR 2013-14. Can I still fill my ITR return for assessment year 2013-14.? If yes then is there any tax liability on me? I am salaried employee and my employer already deducted tax for assessment year 2013-14

    • Hi Ashish,

      You can only file return till 1 year from the end of relevant assessment year. So for AY 2013-2014, you could have filed return till 31-3-2015. You cannot file the return now.

      You can make sure, atleast all the tax is paid (non only on yoru salary, but other income like FD Interest, Share income, Property etc.

  164. i didn’t file ITR from last three year. can i file it now? what will be late filling penalty and what is necessary to fill in itr form? i have not any investment. i am paying house rent. am i able to get refund?
    waiting for your reply
    thanks

    • Hi Karan, You can file return for AY2015-2016 & AY2016-2017 now. If the tax paid / TDs deducted is more than your tax liability, you can claim refund.

  165. Dear sir,

    I got a notice from income tax department that i have not filed my returns for the assessment years from 2011-12 to 2014-15. During the assessment year 2011-12 and 2012-13, I was in lop for some months becoz of health issues and i resigned my job in 2011. Tax is deducted by the firm for the financial years 2010-2011 and 2011-2012. I joined other organization in 2012. As my salary was less than 5 lakhs per annum, i didn’t file the return. I wanted to know how to file the returns for the assessment year 2011-12, 2012-13 and 2013-14. I have no tax due and in all these assessment years my income was less than 5 lakhs. I could file the return for 2014-15 as belated return. I would like to know how to intimate this to income tax department

    • If you got notice, then you can reply to them with the details like Income and tax deducted. Also mention that no further taxes were due to be paid.

  166. Sir,

    when returns cannot be filed for the assessment year 2011-12, 2012-13 and 2013-14 ( There is no tax due for these years), should i send any written letter to income tax department regarding this.

    Any penalty will be put for this….

    • If your income for these years are below taxable limit, then you should not worry. There is no need to send letter to Income tax dept.

  167. Hi,
    I missed to file income tax return for AY 2014-15. I am expecting refund due to excess TDS deduction. One of the e filing portal it says that I can not e-file returns now as the due date was 31-03-206 for AY 2014-15.

  168. i want to file IT return for the fy 01-04-2013 to 31-03-2014, ay 2014 -2015. in the year upto 16-06-2016
    i have also refund.
    please help

  169. simple and easy content writing .very use full article.

    Dear sir , can you give me clarity
    I have received the below mentioned notice first time on 14th June 2016 by post.
    notice dated 16/10/2015
    SUB: NON FILING OF INCOME TAX RETURN-REG.
    FINANCIAL YEAR 2012-2013 ASSESSMENT YEAR 2013-14
    Compliance Module on the e-filling portal at income tax India filling
    2012-13
    STT-01, STT-02, STT-03
    Sir,
    i m not aware about trading and IT rules until i get notice.
    IN 2012-13 I have done trading and capital loss more than ten thousand.and same year I have changed career direction become full time student so left the trading. And I have no income up to date FY 2015-16. just living on family and friend financial support and doing study.
    (1.) How I reply this notice kindly help me.when I have lost of Rs 40000/- and no income.?
    (2.) Is still after four years now in june 2016 when i get notice .this time I can fill return for FY 2012-13 AY 2013-14 ? and carried forward loss? When I have already left trading in 2012-13 but not closed demat and broker account.
    i have no account book keeping. But have all documents statement of capital gain and bank statements
    (3) can i just register myself and fill reply of this notice.?

    • Hi Ashwani,

      Many tapayers are not aware of these rules related to share trading and getting notices. As not only final income / loss is important, but also the trading volume of these derivatives. The Income tax department will treat this as trading business and need to follow rules similar to other business, where you need to keep records.

      In terms of compliance notice, you can register on Income Tax online portal and reply there. You cannot file return for these year now as it is time barred.

  170. Sir ,
    I have filing IT Returns in the past on ITR2A which included my income ( income from interest on FD) and my wife income clubbed (income from interest on FD). For FY 2015-16 in addition to interest on FD of self and wife I have also done some trading in equity and suffered loss Rs 25000. My question- which form is to be used for filing IT return. Thank you.An early response is requested so that i can file return by 31 July 16.

  171. Iam self-employed I submits itr Up to 2005. Since then I did Not submitted itrs due to lack of sufficient income. Now I want to submit itrs . Is it valid or I have to submit for all year’s since 2005.

    • Hi Sekhar,

      If you had income below tax slab, then there is no compulsion to file income tax returns. If you want to submit it now, you can do it. there is no need to file return from 2005 – actually you cannot file returns now for these years anyway.

  172. Can I file return for A.Y-2014-15 since it is nil return & the deadline of file return is 31.03.2016.

    so help me if i file the return or viceversa

  173. KARAN PRASAD SWARNKAR

    Good evening sir,

    I want to file income tax return of my father for AY 2011-12, 2012-13 & 2013-14.
    It is possible or not?
    because we received a notice for non filling of ITR.
    Above assessment year consists TDS & REFUND also.

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