is sec 271 F is applicable if tds has been deducted from salary nd the assessee is filing his i.t return after assessment year i.e he is filing now return of A.Y-10-11.
again 271 F is applicable in case of non taxable return or not.
plz help me out
AJAY AGARWAL (Articleship) (102 Points)
16 April 2011
is sec 271 F is applicable if tds has been deducted from salary nd the assessee is filing his i.t return after assessment year i.e he is filing now return of A.Y-10-11.
again 271 F is applicable in case of non taxable return or not.
plz help me out
CA Rohit Gupta
(Partner)
(1982 Points)
Replied 16 April 2011
Penalty U/S - 271F will not attract if the assessee has GTI less than the Exemption limit even if he submit return after the end of relevant assessment year. However in your case since tds is already deducted it means the income is above exemption limit, it is on the discretion of Assessing officer to levy penalty u/s 271F. I have not yet come across any section 271F penalty being levied by A.O for delayed filing of return till date
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
