18 September 2012
Normally the income tax department is NOT harsh enough to charge penalty in such cases. So you can go ahead and file the return for the assessment year 2011-12
18 September 2012
271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees
18 September 2012
In the above case, assessee's income is less than exemption limit so he is not reqired to file return u/s 139 and its sub sections. Hence as per the wording of section 271f, penalty can not be lavied on the above case.
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