Dhanesh Agarwal ( ) (70 Points)
28 May 2013If any person whose income does not exceed minimum amount which is not chargeble to tax in that case if he not fill his ROI then penalty under Sec 271(1)(f) of income tax act would attract or not?
Please give the respose along with section and case law (if any).
manasi
(CA FINAL)
(56 Points)
Replied 28 May 2013
As per section 139(1) a person is required to file return of income if his income exceeds max. amt not chargeable to tax. if a person other than this wishes to file return is ok and completely optional. So in this case question of penalty does not arise.
Penalty under section 271(F) is attracted when ROI if not filed within due date of furnishing ROI.
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