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Question ID : 36898

ITr for 3 years

can ITR of a person be filled for 3 years at a time if Taxable income from First two years is Nil without attracting Penality

Posted by Mahesh Kumar on Dec 20, 2018


Answer ID : 76080

The finance act 2016 effective from 1st April 2017 has Substituted Sec.139 Sub sec.4; the belated return can only be filed before the end of relevant assessment year- that means at present you can file only one year return for AY 2018-19. In the Finance act 2017 w.e.f 1st April 2018 New sec.234F was inserted Fee for default in furnishing return of income before due date a). Rs.5000/- if furnished before 31st December b). Rs.10000/- in other cases If total income does not exceed Rs.5,00,000/- fee payable Rs.1000/-.

Posted by PRASHANTH KATTA on Dec 20, 2018
Answer ID : 76095

An ITR for 3 years cannot be filed in normal case without penalty. Only ITR for the financial year 2017-18 (Assessment Year 2018-19) can be filed upto 31st March 2018 with penalty. For older ITR can only be filed u/s 148 if any notice by ITO is issued to file the same. No penalty is required to pay. In normal case being belated return older ITR could not be filed.

Posted by Kumar Suresh Somani on Dec 25, 2018
Answer ID : 76107


Posted by CA JEET REWRI on Dec 27, 2018
Answer ID : 76193

If your Client received a Notice U/s 142(1) of the Act, then you can file all the Returns without penalty. E filing Site is also programmed to file such Returns. Otherwise No.

Posted by Rupakula Rajasekhar on Jan 12, 2019