Income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 January 2014 a person having income below basic limit but filling itr but meanwhile he did not file his return & now he again want to continue without filing those two year as if those yrs rtrn will file it will be fined 5000, so can he do so whether any problem may be arise, the file is still non taxable

Ganeshbabu K

Ganeshbabu K (Expert)
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02 January 2014 5000 penalty will come only if he failed to return of income u/s 139(1)
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means income before chapter via deductions should not exceed basic exemption limit
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so problem if income is below basic exemption limit

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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02 January 2014 1. As per Section 139(1) of the Income Tax Act, every assessee whose total income before claiming deduction under Chapter VIA (80C to 80U) exceeds the exemption limit is required to file his return of income.

2. Penalty u/s 271F can be levied if the assesee fails to file the return by the end of the assessment year.

In your case, the income is less than the exemption limit so he is NOT required to file his return of income. Therefore no penalty can be levied in this case.

The assessee can file the return for the successive year/s.

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