ITR for AY 2011-12 & 2012-13

Hi Suresh

Respond to the notice through income tax portal selecting the reason for non filing to be 'not liable to file ITR'.

We may help you with the same.

Hi,

If you were not liable to file the return you can simply respond to the notice through the income tax portal stating that you were not liable to file the return.

However, what do you mean by MF transaction of 9 lakhs in these 2 years?

Regards,

Nikhil

So don't panic if you are sure that your total income is below the maximum amount chargeable to tax just write a response letter to the income tax officer that your total income is below the limit and that's why you didn't file return. But remember in 2011-12 the limit was 1.6 lakhs and not 2.5 lakhs and if you can prove your income you can still file return u/s 148 and you might have received notice also under this section.

But i am doubtful for A.Y. 2011-12 since the 6 year limit for A.Y. 2011-12 is also over now or you might have received such notice before march 2018.

Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.

Thank you

Hi Suresh,

As mentioned by you, your total income was below the limit. Now you can simply response through income tax portal that you were not liable to file return.

Hi,

Hope you are doing well !

The threshold limit for AY 2011-12 & 2012-13 was Rs. 1,60,000/-

If you are sure that your total income was below the threshold limit then respond the notice through income tax portal by selecting the reason 'not liable to file return'.

Thanks & Regards,

Payal Chhajed

Hi,

- File response on the website by selecting that you were not liable to file ITR during those two years but department may ask for the source of mutual fund transactions as they are more than the threshold limit.

- Might be department have information about investment in mutual fund transactions.

Thanks

Yes, you are absolutely right. The returns for this years are time barred and cannot be filed. However, it is worthwhile to revert on the portal that your income is below the threshold limit and hence was not filed. At max, you can just compile the manual ITR and upload for completion of process.

File return on Income Tax site in response to section and notice no. you received thru post..

I think it will be the best thing to do.

Hi Suresh,

You can respond to the notice saying that your income in those years were below threshold (threshold in those years were 1.6 lacs) and you were not required to file return for those years

Hi,

- If the income including capital gain from sale of equity mutual funds is below the threshold limit then you can reply "My income is not liable to tax". Please ensure that there was no TDS deduction in those years. Download Form 26AS.

Thanks

If your taxable income was below the threshold limit it is fine if you just reply in the portal accordingly.

I don't think the letter would be enough from what I have seen since they have the information they will assume that your income is above limit and they will proceed accordingly so I would suggest you to file return and then tell them that your income is below taxable limit and therefore you were not liable to file return and therefore please drop all proceedings

Hi,

Hope you are doing well !

If the taxable income including capital gain from sale of equity mutual funds is below the threshold limit then you can simply reply "My income is below taxable limit so it is not liable to tax" through income tax portal that .

Please ensure that no TDS was deducted in those years.

Please check the same with Form 26AS.

Yes, it will be sufficient.

Yes, you can respond saying that investment made through prior savings and not liable to file return

As the reply need to be uploaded electronically, it would be sufficient to state that your income was below taxable limit.

I would assume that the capital gains earned from sale of equity shares was a genuine transaction and also not within the taxable limit before claiming any exemption. Also, you should as a matter of prudence, keep the information and documentation ready and have them vetted by CA before uploading the reply such that in case a detailed scrutiny is you are adequately safe.

You don't need to file the income manually. For the time being, you can say my income was not taxable and give a detailed reply whenever asked for

Manually not possible