Penalty u/s 271f ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2012
Dear sir,
An individual having the total income of Rs. 162000/- (above from threshold limit) with the TDS of Rs. 3000/- in F.Y. 2009-10.
If he files his income tax return now for A.Y. 2010-11 only for refund purpose. Whether the penalty U/s 271F will attract or not ?
If any helpful citation in this regard, where prepaid tax is already deposited, then please suggest me.
Thanks.
An individual having the total income of Rs. 162000/- (above from threshold limit) with the TDS of Rs. 3000/- in F.Y. 2009-10.
If he files his income tax return now for A.Y. 2010-11 only for refund purpose. Whether the penalty U/s 271F will attract or not ?
If any helpful citation in this regard, where prepaid tax is already deposited, then please suggest me.
Thanks.
04 February 2012
If the total income exceed the amount which is not chargeable to tax then AO may impose penalty of Rs. 5000/- for late filing of return.
You are suggested to file e-return for the assessment year 2010-11.
You are suggested to file e-return for the assessment year 2010-11.
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2012
Whether the e-return can escape from penalty U/s 271F in such a case ?
04 February 2012
Penalty is not mandatory in nature. It has generally seen in the most of the cases A.O. do not levy penalty if there is a reasonable cause.
and in case of e filing most the the cases assessed without issuing any notice to assessee.
and in case of e filing most the the cases assessed without issuing any notice to assessee.
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