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Penalty for delay in filing the return

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 June 2014 Penalty payable for the delayed filing of the return as per section 70 is amended to Rs 20,000 on and from 8.4.2011. Will this be applicable for the return filed today for the years 2007-08 to 2010-11 ?
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Arun Kumar Singh

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Arun Kumar Singh (Expert)
19 June 2014 Yes, department can imposed the maximum of Rs. 20000/- per return.

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