Penalty for non filing of itr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2013
Pls guide me relating to the case mentioned below whether penalty for non filling ITR will attract or not:
Case:
Assessee : Individual
Income From Business : Rs 1,40,200/-
Agriculture Income : Rs 65,000/-
Matter under consideration is that "whether Agriculture income will be part of G.T.I for attracting penalty for non filling ITR"??
Pls give complete reply with supporting (if any)
Thanks
Case:
Assessee : Individual
Income From Business : Rs 1,40,200/-
Agriculture Income : Rs 65,000/-
Matter under consideration is that "whether Agriculture income will be part of G.T.I for attracting penalty for non filling ITR"??
Pls give complete reply with supporting (if any)
Thanks
20 July 2013
no since agricultral income is exempted for from tax its just included to compute tax.
21 July 2013
Agri. income is not to be included for arriving gross total income. It is to be consider for rate purpose only. Not under obligation to file return u/s. 139(1) therefore no penalty attracts.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 July 2013
thanks a lot for the reply.
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