query about penalty for late filling i.t. return

This query is : Resolved

Vijay Parmar (Querist)
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27 April 2009 hello

sir,

1)can i file my return after march 2009. of A.Y.: 2007-08 AND A.Y.: 2008-09 ,my income was below taxable limit.

2) Rs. 5000/- late payment penalty applicable for me. ? for above A.Y.2007-08 AND A.Y.:2008-09.

im confuce please reply earlier.

from vijay

C.A.Javid Patel

C.A.Javid Patel (Expert)
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27 April 2009 Yes you can file the return and you don't have to pay penalty the penalty will be payable if the Assessing officer demand or give show cause notice.