what is Section 271F?
This query is : Resolved
01 April 2008
Dear all,
Please give provisions of Section 271F of Income tax Act.
Thanking you.
Please give provisions of Section 271F of Income tax Act.
Thanking you.
01 April 2008
As per provisions of Sectin 139(1) of the Income Tax Act, 1961, every person whose total income exceeds the maximum amount, which is not chargeable to income tax, shall by the due date, file his return of income in prescribed form. Failure to do so by the due date or before the end of relevant assessment year will attract penalty under Section 271'F of IT Act 1961, amounting to Rs. 5000/-.
Message likes :
2 times
01 April 2008
Thank you dear.
I have still doubt that if a person files return for A.Y.2007-08 after 31-03-2008, will penalty under Section 271F leived or not?
Kindly give reply.
Thanking you
I have still doubt that if a person files return for A.Y.2007-08 after 31-03-2008, will penalty under Section 271F leived or not?
Kindly give reply.
Thanking you
21 September 2008
YES. PENALTY CAN BE LEVIED U/S 271F.
Message likes :
2 times
27 March 2010
If the Gross Total income is below the exempted limit, return can still be filed after the end of relevent A.Y. without attracting section 271F
Message likes :
1 times
29 April 2010
U/S section 271F the powers given to the assessing officers are discretionary, not mandatory, So in the case if the income is above taxable limit, the return filed after 31.03.08 for AY 2007-08, The AO may levy the penalty of sum mentioned above.
03 June 2010
agree with the experts
13 February 2013
If return filed after due date, but before date of limitation, I.e. Due date 31/07/2008 filed on29/03/2009, and it is a return of refund of info.e tax, can the penalty be levied, if assessment hadalreadybeen done or refund received?
24 September 2014
but penalty is only Rs.5000/-
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Errors in lTDS FORM 26 QB FILING FOR Last instalment payment FOR HOUSE PROPERTY PURCHASE
- TDS deposited by party after the filing of income tax returns
- Reg Correction Form 15CB & 15CA
- Regarding Capital gain of NRI
- Gstr9 fy23-24
- Rebate u/s 87a on STCG / LTCG - New tax regime
- Query on Cheque
- EXEXMPTION U/S 54 AFTER DEATH OF ASSESSEE
- Regarding TDS refund u/s 194B & 194G of AY 2024-25
- GST Input disallowed on account of e invoice not issued by supplier
- Books of accounts for gratuity fund trust
- Is Home Orderly Allowance available to Judicial Officers of India, Taxable?
- Voluntary gst tax given in DRC FORM 3 US 122 AND US125
- Rule 42 Calculation
- At least one Business Code is mandatory either in Schedule Nature of Business or at Point 61
- Fixed assets to be expensed out resulting nil value
- ITC RECREDIT NOT SHOWN IN GSTR 9
- Regarding Tata Motors Stock
- GSTR9 ITC AVAILED CLARIFICATION
- Gstr9 2023-24
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
