It return query
Page no : 2
CA Ronak Garodia
(Qualified Chartered Accountant)
(125 Points)
Replied 23 March 2014
If ur total income exceeds maximum amount not chargeable to tax and u file a belated return..... penalty may be imposed on satisfaction of AO....
CA Ronak Garodia
(Qualified Chartered Accountant)
(125 Points)
Replied 23 March 2014
Check the provision of sec 271 & Sec 139. Sec 271 clearly states that if aperson who is reqd to furnish ROI fails to furnish return penalty of Rs 5000/- shall be imposed..... Now Sec 139 states that any person whose total Income without giving effect provision of chp VI- A exceeded the maximum amount nor chargeable to tax ie Rs 180000/Rs 190000/ Rs 250000 as applicable. Shall furnish ROI.....
CA Ronak Garodia
(Qualified Chartered Accountant)
(125 Points)
Replied 23 March 2014
But penalty imposed is in very rare cases.......
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