Can i itr file for a.y 13-14
This query is : Resolved
02 October 2014
respected sir. please tell me can i itr file a.y 13-14 nil tax balance. assesee income for the f.y 12-13 is 242365.00 and deduction is 44400 under chapter sixth in this itr no tax payable or paid then penalty of 5000 when applicable in this condition. thank you
02 October 2014
Penalty u/s 271F may or may not be levied. It is at the discretion of AO. Maximum penalty is Rs 5000/-. Generally in these type of cases penalty is very rarely imposed.
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