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POSTED BY ON March 25, 2014 1:21 pm COMMENTS (4)
I am unemployed for past 3 years I just want to know if in this case also I need to file Income Tax Returns (I do not have any income from any other source) , will there be any penalty say if after such a long period I get back to work or able to earn money and next financial year file any Income Tax Return.
In case I should have filed return let me know what are the penalties in this case and how can I fix it now.
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Dear Kktty, if there is no Income, the question of Taxation and filing return there on does not arise.
Thanks
Ashal
“I do not have any income from any other source”
NO INCOME means NO INCOME TAX
I am not sure if we understood your question correctly, did you have income in the past but do not have income since last 3 years.
Yes in past there was income and I had filled return (for that financial year) also,that income was from job.I had got refund also in my bank account that was 3 years before.After that I do not have job.
Dear KKty, as you are unemployed and no income is there, you are not liable to file Income Tax Return. Relax. The department ‘ll not ask you for reason of non filing as there is no TDS or AIR entry against your PAN during these past 3 years.
Thanks
Ashal