I am a salaried employee.Employer had deducted my TDS for A.Y.2011-12 FY 2010-11 amounting Rs.1100 in same year. After calculation, my tax payable is Rs.824 refund Rs.277.Now I want to fill my ITR return.so Is it penalty for it.
06 February 2013
As there is no tax payable from your side while filling the return, you need not require to pay the penalty. Penalty is leviable only when tax is payable. But in your case, you will get refund, so you canwithout any worry.
08 February 2013
Singhavi saab, Penalty U/s 271F depends on whether you are required to file return or not u/s 139(1) read with proviso, and the answer is yes because if before taking deduction U/C VIA, if the assesse have income above the maximum amount not chargeable to tax than he have to file return. and penalty u/s 271f is imposable if reuired to file return u/s 139(1)
and also... at least any CA or Lawyer will take atleast more then Rs. 277 to file a return which is the total amount of Refund
CAclubindia
