Penalty u/s 271f

This query is : Open

CA Pradeep Gupta (Querist)
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12 October 2011 Whether penaly u/s 271F is leviable for the following case:

A.Y. 2010-11

Gross Total Income 30000

TDS 3000

But assessee wants to file his return to claim TDS after end of A.Y. 10-11 say on 12.10.2011

Gupta Mohit

Gupta Mohit (Expert)
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13 October 2011 penalty u/s 271f has no relation with the amount of GTI, it simply says that if you file ur return after the end of assessment year then the penalty shall be leviable subject to the justification.

so the penalty is also leviable in the following situation

Rabindra Kumar Sahu

Rabindra Kumar Sahu (Expert)
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13 October 2011 There is a provision of penalty but normally penalty may not be imposed in this case in view of natural law. You can Claim the TDS through filing of Return.

Thanks and Regards
R K Sahu

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CA Pradeep Gupta

CA Pradeep Gupta (Querist)
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15 October 2011 Dear sir

Actually i have to file return for AY 2011-12 also at same income and same TDS, but i was thinking whether AO Can levy penaly for AY 2010-11 and deduct the penaly amount of Rs. 5000/- from aggregate of refunds i.e. 3000(AY 10-11) + 3000(AY 11-12) =6000/- and refund the balance amount. Pls suggest me whether i should file the returns for both the assessment years or not.

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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15 October 2011 Pardeep ,penalty u/s 271F levied in case assessee compulsorily required to file return U/s 139(1).....in your case if assesse is individual his GTI is Rs. 30000,so he is not required to file return...so penalty u/s 271 F not levied