13 March 2009
A PERSON WANT TO FILE THE RETURN U/S 139(4) FOR PR. YR. 2006-07 HAVING TAXABLE INCOME BELOW THE EXEMPTED LIMIT. SO IS THERE ANY CONSEQUENCES ARISE U/S 271 (F)FOR PENALTY OF RS 5000 FOR SUCH FILLING OF BELATED RETURN.
13 March 2009
As per section 271F, penalty will be leviable only if the person is required to furnish return under section 139(1) or by the proviso to that sub section.
If your case does not fall above, then there is no penalty u/s 271F.
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