garvit bharti (CA FINAL) (370 Points)
03 September 2012
CA VIPUL PATIL
(CA IN SERVICE)
(61 Points)
Replied 03 September 2012
As Per section 139(4) Belated return can be filed
1) within One year from the end of Assessment year OR
2) Before completion of assessment
Wichever is earlier
If the Return is filed after assessment year then assessee MAY BE liable to pay PENALTY U/S 271F (Rs 5000)
CA Parveen Jain
(Chartered Accountant )
(355 Points)
Replied 04 September 2012
If the income is below the taxable limits then no penalty willl be levied.
varun
(article assistant)
(86 Points)
Replied 04 September 2012
No penalty wiil be levied, interest U/S 234 A should be paid for late filing. if the tax exceeds Rs. 10000 means interest U/S 234 B and 234 C will be .applicable
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