PAN Card, Never submit any Returns to the IT Dept
SATYANARAYANA K
(Querist) 28 July 2010
This query is : Resolved
I am a Junior Lawyer
I am practicing as an Advocate since 4 years, but I am doing Practice independently since 2 years, My family is Hindu Undivided Family, i am earning through Profession Rs. 3,000/- per month only. remaining my family members are earning each one Rs.5,000/- so my total annual income is 1,36,000/- only.
I have PAN Card since 2006
I never submit any returns to the Income Tax Department my income is not taxable income hence i never submit
My Queries are
1. Am I liable to any penalty
2. My Family Total income never reach Taxable income my brother also PAN Card he also never filed any returns to the IT Dept
3. Since 2006 I did not file any returns hence (never mind or any penalty)
4. What shall i do as a Lawyer i am doing profession, hence may i register Professional Tax Assesses.
5. I have no any idea about this Taxes
6. what shall i do as a Lawyer
Please suggest your valuable suggestions, i am waiting for replies. Thanks in Advance to all Experts.
s.subramanian
(Expert) 28 July 2010
even though you do not have taxable income, file your tax returns with nil taxable income. it is called nil return. in future when you apply for the post of a judicial officer,it wil help you very much.
SATYANARAYANA K
(Querist) 29 July 2010
Respected sir, My query is
Am i liable to any penalty till now, i did not file returns, hence i am asking
If not file returns now is there any penalty will be imposed upon me
Here some body told that if not file returns they will be imposed fine of Rs.10,000/- is it correct or not please tell sir,
I am waiting for your reply
AMIT BAJAJ ADVOCATE
(Expert) 29 July 2010
Person having Gross total income below exempted limit need not to file return of income. Your income is well below the exempted limit of Rs 160000 p.a. so there is no question of penalty.
Its only your individual income that will be counted for determining your Gross Total Income and not of the whole family.
There is no such penalty of Rs 10000 in your case under Income Tax Act 1961, somebody must have misguided you
Vineet
(Expert) 31 July 2010
Since your income has always been below the minimum taxable limit, you were never required to pay any tax or file any return. So there is no cause for any penalty.
Further the Income Tax is leviable on income of a person. So each member of your family is a seperate person for Income Tax purposes and their income is not to be clubbed (except minor child whose income is to be clubbed with one of the parents).
You can file returns for you income for financial years FY 2008-09, 2009-10 now without any worry and forget about earlier years.
soumitra basu
(Expert) 01 August 2010
I do agree with Mr. Subramanian and Mr. Vineet.
Do not worry. You shall not be liable to any penalty.
File your non-taxable return.
You should also enroll yourself in Profession Tax department and pay the same. Do you have the trade licence?
M/s. Y-not legal services
(Expert) 08 October 2010
Nice mr.sathya.. I appreciate with your awareness with i.t. You no need to worry about past years.. More over your total family income itself below 1.5 lakh only.. Income tax belongs to individual. Not for entire family.. Even you may file as nil returns..
DEFENSE ADVOCATE.-firmaction@g
(Expert) 06 August 2010
