Filing return
Guest
(Querist) 23 April 2012
This query is : Resolved
What if an assessee receiving notice under section 148 does not have copy of returns filed 5 years before.What should be sent as reply?
Suhail A.Siddiqui
(Expert) 23 April 2012
In case u do not have copy of return and not able to obtain copy from the department,then u may file fresh return because in absence of documantry proof it will amounting non filling of return. in response of 148 notice, one must reply/ participate, otherwise they may decide your case ex party on the basis of available record.
Guest
(Querist) 24 April 2012
Mr. Suhail
If one does not remember the exact return filed at that time?
A V Vishal
(Expert) 24 April 2012
It is mandatory under tax laws to maintain records for upto 6 years, your contention is not maintainable, in absence of documentary proof the AO can assess the file with the information on his records.
INDER JAIN
(Expert) 24 April 2012
If you do not have a copy of the old return, prepare a fresh computation of income and file your return in response to notice u/s Section 148 of IT Act within the stipulated time to avoid penalty. Even if you had not filed the return earlier, then too you would have to do the same. Act fast.
prabhakar singh
(Expert) 24 April 2012
Agree with advises advanced, which are sufficient guidance.
Shonee Kapoor
(Expert) 24 April 2012
Nothing left to be added.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
C. P. CHUGH
(Expert) 27 April 2012
Notice u/s 148 is issued to an assessee requiring him to file a return of income for the relevant AY. In case such assessee has already filed his return of incoem for that AY, he may ask the AO to consider his return already filed as filed in response to notice u/s 148 or alternatively he may file a fresh return.
It is an opportunity to disclose any income which earlier remained undisclosed.
If you are a regular assessee and is engaged into any business or profession, no one is going to buy your arguments that you have no record, because such foolish things are not expected of a prudent businessman.
IF you are not involved into any kind of business or profession and are havin income from employment or other sources, you should be scared of notice u/s 148 as, probably you have nothing to hide or disclose. Just compute your tax liabiliy as per your stated income and file the return.
