Appeal & Revision.
This query is : Resolved
05 December 2009
If return has not been filed for since last three years because income was not exceeding the taxable Income Limit ie 150000 .
if asseesee wants to file the return voluntarily to avoid future proceedings .
whether assessee can file return before at this time or there will be any fine or proceedings if not filed .
wht shall be the consequences .
If return has not been filed for since last three years because income was not exceeding the taxable Income Limit ie 150000 .
if asseesee wants to file the return voluntarily to avoid future proceedings .
whether assessee can file return before at this time or there will be any fine or proceedings if not filed .
wht shall be the consequences .
05 December 2009
Sec. 139(1) requires filing of return if income without giving exemption u/s 10 exceeds exemption limit.
However, assessee can file voluntary return & it can be belated.
You may note that there will not be any penalty u/s. 271F. The said section imposes penalty of Rs. 5000 if the return was required to be filed u/s. 139(1) & it is not filed. It does not apply to voluntary return.
However, assessee can file voluntary return & it can be belated.
You may note that there will not be any penalty u/s. 271F. The said section imposes penalty of Rs. 5000 if the return was required to be filed u/s. 139(1) & it is not filed. It does not apply to voluntary return.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Sale of property furniture sale
- Filing of Form 10BB instead of Filing Form 10B
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
