If your income is less than 500000/- penality will be Rs 1000/- for filing of late retrun .
You mean to say you are not paying any income tax ( Nil retrun) , you income in the previous year is 250000/- or less , Nor need file retrun . As per section 139 (b) of the income tax 1961 Income during the pervious year exceeded the maximum amount which is not chargeable to income tax must furnish retrun.
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