Poonawalla fincorps
Poonawalla fincorps

Penalty for nil tax payer

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(Querist)
06 September 2015 is threre any penalty for nil tax payer if he files his itr after due date?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
06 September 2015 For AY 2015-16 you can file belated return u/s 139(4) upto 31.03.2016 without any penalty.

You can also file belated return upto 31.03.2017 but subject to a maximum penalty of Rs 5000/- u/s 271F.

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