| Originally posted by : RAJESH CHOUDHARY | ||
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Originally posted by : Akanksha Jain Penalty of Rs. 5,000 is leviable.. but if you e-file the return there is a possibility that u wont get the notice to pay the demand.. There will be No Penalty on this dear. Regards, RAJESH CHOUDHARY |
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As per Sec 271F
If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees
THence Penalty is leviable.. its depends upon the AO to demand or not to demand..
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