income tax

Shrestha Jain (Chartered Accountant) (555 Points)

19 June 2010  

 

hello,

pls answer thisone-

 

Mr. X has not filed return of income for previous year 2008-2009

assesment year ends on31st march 2010.

now on 19 june 2010 he wants to file return .his income for py 08-09 was Rs.125000. pls tell whether the penalty of Rs.5000 will be levied or not. as his income is less than the minimum exemption slab.