F.Year 2013-14 returns not filed
Dear Sir,
Good Evening. Thanks in advance.
I have 2 queries.
1) I have filed my income tax returns up to financial year 2012-13. I have received scrutiny for the F.Year 2011-12, and subsequently it was replied and got order too. Now the audit committee asked some queries for the same year. After issued assessment order is it possible to raise a query for the closed file.
2) From the F.Year 2013-14 I did not file the returns due to some personal reasons. But I got remainder from IT dept. to file the returns. But I can't able to act at that time. Now I login to the Income tax website there is a compliance regarding the non filing of returns for the F.Year
2013-14.
The AIR transactions are
1) cash deposit of above Rs.2lacs,
2) credit card payment of above 1 lac
3) Commodity trading of above Rs.10lacs.
I have cash deposit above 2 lacs only another 2 things I did not made.
In this circumstances my auditor told me to file a return under section 148 otherwise if any problem will arise in future. If I filed under section 148 (I think it is income escaping assessment) suppose I will receive another scrutiny or is it safe to file the return now? Previously I was doing business, now I am a salary person.
I am very confused. Even I can't sleep in the night. Please give me a suggestion.
Thanking you,
Chinna