04 September 2018
Dear Sir/Mam,
Plz tell me If I am filing the return after 31 aug 2018 for A.Y 2018-19 and my gross total Income is Rs. 300000/- after deduction my net Income is Rs. 247000/- .My query is the penalty of 1000 rs is liable in gross income or in net income..
04 September 2018
Yes, Penalty u/s 234F will be levied as you are liable to file your returns and your Gross Total Income exceeds the basic exemption limit.
CAclubindia
