Pending ITR

Hello Pankaj, I am out of India since Aug 2003 but I worked for an Indian firm till Sep 2007 and was getting my basic salary etc in India. My company deducted tax until I worked for them and I filed ITR till FY 2006-07. I had no salary income in India since Sep 2007, but I got some interest income(less than 50000 a year) and got my PF and EPS (around 2.2 lack)in year 2007-08. But I could not confirm weather tax was deducted from PF and EPS or not. I have not filed my ITR for FY2007/08/09/10/11. I am coming back to India this month and joining a new job there. I would like to know whether I need to fill all ITR for all previous year.

-Jitendra

asked May 13 '11 at 02:36 by Jitendrak 1●4●5●5

One Answer:

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In case the income in a particular financial year is less than tax free threshold (1.6 lacs), return filing is not mandatory.
If EPF amount is withdrawn before five years, then withdrawal amount is taxable. But still only interest portion on employee and employer contribution and employer full contribution is taxable. In case EPF account was held for more than five years, amount will be non-taxable. PF department will not have deducted TDS as they never did so.

You may skip filing income tax return now as in all these years, your income was less than taxable threshold.

answered May 13 '11 at 13:17 by Pankaj Batra 5.2k●3●20

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Asked: May 13 '11 at 02:36

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Last updated: May 13 '11 at 13:17

Pending ITR

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