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late return penalty of RS.5000

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

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Amit Bajaj (Expert)
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.
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
26 March 2010 agree with expert
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