11-03-2011, 07:41 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Aikkhilari</i>
<br />Assalam-o-Alaikum
What are the provision available to voluntarily declaring your past years income. Are there any charges or/and penalties?
Can you still file a Tax Return for prior years if your tax liability is ZERO.
If possible, how you go about filing past years Tax Returns?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
If you were bound to file return in the previous years under s.114 of ITO, 2001 but you failed to do so, then you will be liable to penalty under section 182.
However, if you were not liable to file return, but wants to file it voluntarily, there is no penalty for that.
<br />Assalam-o-Alaikum
What are the provision available to voluntarily declaring your past years income. Are there any charges or/and penalties?
Can you still file a Tax Return for prior years if your tax liability is ZERO.
If possible, how you go about filing past years Tax Returns?
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
If you were bound to file return in the previous years under s.114 of ITO, 2001 but you failed to do so, then you will be liable to penalty under section 182.
However, if you were not liable to file return, but wants to file it voluntarily, there is no penalty for that.
