17 July 2012
Can a persona who is not liable to pay tax and hence he is not liable to submit income tax return u/s 139(1),file return after the end of assessment year(but before the expiry of one year from the end of relevant assessment year) without attracting penalty u/s 271F i.e Rs. 5000 ?????
I don't think that penalty would be attracted. What do you say about this.?
CAclubindia
