Itr 4

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2012 one of my neighbour wants to file ITR 4 for the ay 11-12 now as is requird by the vendor of car co.for purchasing the car.
penalty u/s 271f for late filing the return wil b levied or not if i show income below exemptn limit??

auditor sekar

auditor sekar (Expert)
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03 September 2012 Penalty will not be levied,

If you pay a tax which is more the limit prescribed for payment of Advance Tax i.e. above 10000/= then Interest U/s 234 B,C will be levied

Otherwise 234A Interest for delay in payment of Tax that was due to the department will only be demanded by Department.

Proceed with the filing of RETURN.

Querist : Anonymous

Querist : Anonymous (Querist)

03 September 2012 thanks but sec 271F imposes penalty of rs5000 for failure to file return by the end of relevan ay...
thanks

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