Online return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 October 2010 Hello!
I have received the FORM 16A from the bank for the year 2009-10 and there is no other income.
Please inform me whether i have to submit my return with ITR 1 or not. And is there any penalty as i have not submitted my return untill now?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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01 October 2010 YOu can file itr 1 and claim refund.

Return filed after one year from the end of the financial year may attract a penalty of Rs. 5,000/- not otherwise.

Hemu Kapoor

Hemu Kapoor (Expert)
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01 October 2010 Agree with Aditya Sir.

NITIN SHARMA

NITIN SHARMA (Expert)
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01 October 2010 If your income is less than the prescribed limit which is exmpet to tax than you need not to file any return of income and no penal proveesions u/s 271f attracts. If you want to get refund than you may file return.