Easy Office
LCI Learning

Return by individual

This query is : Resolved 

09 March 2010 Hi all,

Return for individuals has to file return of income if they are having income excess of exemption slab without giving effect deductions right....but one of friend is not filing return....his tax liability will be nil after giving sec80c to 80u dedctions....will anything happen what are the consequences...pls help on this...

09 March 2010 Penalty will be leived Rs.5000/- u/s.271F

10 March 2010 since only gross income is taxable not net assessable income so no need to file return hence no penalty




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries




Answer Query