Search & Seizure by IT Dept. How IT Returns to be filed?

[SHANTI NARAIN]

Hello,

After raid by Income Tax Department, it shall ask for Income Tax Returns to be filed for all preceeding 6 Assessment Year for reassessing the same.

We need to know that:

1. Should we file fresh returns or we can give them photo copies of our earlier returns?

2. If we are required to file fresh returns then can we file these returns online?

3. Can we change any particulars in fresh return from our earlier return filed?

4. How much time to file these returns may be given by the department?

 

reply may also be mailed to [email protected]

[Vinay Jalan]

We need to file the fresh returns along with the copy of the returns already filed. We should look at the punchnama, and analyize as to what is found in course of search, where it was disclosed earlier, and if that was not disclosed, then how it is disclosed now. fresh returns should be filed along with the photocopies as stated earlier.

Yes we can change the particulars from the earlier returns but that should be on the basis of materials filed in course of search as it would be subject of  investigation.. the returns can be filed on line but the intimation of these returns should be given to the assessing officer.

After the notice under section 153A, the normal time which the AO gives to file the returns are 30 days. but there are various other factors needed to be looked in. It is definately an important excercise

AI Summary

Search-triggered filing: fresh returns with prior-return copies required; online filing allowed and changes only if supported by search materials. Taxpayers must file fresh returns for the searched assessment years together with photocopies of prior returns; amendments to earlier particulars are permissible only if supported by materials found in the panchanama or during the search. Fresh returns may be filed online, and the assessing officer should be notified. The assessing officer ordinarily grants a limited period to file after the search-related notice, commonly about thirty days, though this may vary with case-specific factors.