Help regarding tax filing for the first time
Are you planning to file tax returns for the first time? Wondering how to proceed with all the documentation and whether it is legal to file tax returns for five years together? On this Ask Expert page, get financial advice for resolving your doubts.
My wife wanted to file income tax first time and she is 35 years old. She has FD amount of 23 lakhs in her account. We consulted one auditor and she said that you can file ITR-1 for 2 years online and since the system is allowing for 3 more years we can file tax offline for it.
Is it legal to file income tax for total 5 years that too beyond 2 years, will there be some trouble later for all this ? TDS has been collected and it amounts to around 45k.