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Filing of return

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(Querist)
27 July 2008 What is the maximum penalty IT dept can impose on assessee (not requiring audit) if he fails to file IT return by 31st July.

What is the recent trend.
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Jitender

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Jitender (Expert)
27 July 2008 penalty u/s 271 F can be imposed for rs 5000 if roi is not filed upto the end of assessment year.
for f.y 2007-08 ,the date is 31/3/09 after which penalty under above sec can be imposed.
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kshitija

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kshitija (Expert)
28 July 2008 if tax is due then interest is charged on tax due u/s 234 A B C
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CS Shailesh Indapurkar

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CS Shailesh Indapurkar (Querist)
28 July 2008 1

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