late return penalty of RS.5000

This query is : Resolved 

26 March 2010 plz let me know when is the penalty of Rs.5000 liable on late return filing with an example.

26 March 2010 Penalty of Rs. 5000 for late filing of return is leviable u/s 271F if the return of Income is filed after the end of relevent assessment year.

If the return for the A.Y 2009-10 is filed after 31st march 2010 sction 271F is attracted.

26 March 2010 agree with expert




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