Procedure for (online) late payment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2010 This is the first time I'm going to file my return. I'm going to do it online to file my return for FY 2008-2009 (AY 2009-2010). Based on the calculations I'm not required to pay any tax for FY 2008-2009.

I have found out that under section 271F, there is a penalty of Rs. 5000 for late filing. So should I voluntarily pay the penalty of Rs. 5000? or should I wait for any notice?

For e-payment using the online CHALLAN NO./ITNS 280 form, what should I select as "Type Of Payment" in that form?

Any help is appreciated.
Thanks.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

23 July 2010 No penalty since your return is nil return.

Akhil Agrawal

Akhil Agrawal (Expert)
Follow

24 July 2010 but i think 271F says if u had the Gross Total Income more than the exemption limit - i.e. u had liability to file the return then there is a penalty.

In your case u need to check ur GTI.
if penalty is levied then do nt deposit it now let the demand be served on u then u deposit

Upgrade to CAclubindia Pro. Subscribe Now!