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penalty for late filling of ER 5 & ER 7

Rajesh Kumar (Assistant Manager) (84 Points)

30 April 2011

penalty for late filling of ER 5 & ER 7 ??

thanks & Regards

Rajesh

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6 Replies

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 30 April 2011

there two forms are not mandatory for assesee who have paid revenue below 1 cr in previous year, so dont tax your peace of mind .

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Amit (Accountant) (261 Points)
Replied 01 May 2011

But in the law, it has not been mentioned anywhere that only those paying revenue above a certail limit have to file ER-7. According to me, all assessees have to file ER-7. Pl. quote if possible the rule /notification/clarification giving exemption for filing for certail assesses

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 01 May 2011

https://www.dateyvs.com/cenex05.htm

Rajesh Kumar (Assistant Manager) (84 Points)
Replied 01 May 2011

Originally posted by : Rajesh Kumar
	penalty for late filling of ER 5 & ER 7 ?? thanks & Regards Rajesh

Sir,

we are paying duty more than one crore per annum, i want to know penalty for late filling of ER 5 & ER 7 ?

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 01 May 2011

usually no penalty if filed late, submit a request to superintendent to condone the delay,

however maximum penalty is limited to five thousand rupees,

15A. General penalty.- Whoever contravenes the provisions of these rules for which no penalty has been provided in the rules, he shall be liable to a penalty which may extend to five thousand rupees.

[ Inserted vide 10/2008 - dated 01-03-2008]