Hi..
One of my relative got a notice U/s 274 read with section 271F for delayed in filing of Return for A.Y. 2016-17. Now they want to start a penalty proceedings. Date of filing of return was 16/07/2017. What to do? Please guide..
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Notice for 271f proceedings
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If any tax liability exists, penalty applicable. Otherwise, AO has right to waive off the penalty, when properly justified for delay in filing ITR.
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