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Section 271f

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 March 2015 Dear expert
if any income tax has been subjected to section 271F it is sure that the AO must imposed the penalty RS. 5000


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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
16 March 2015 RS 5000/- is the maximum penalty. Levy of penalty is at the discretion of AO after giving assessee a reasonable opportunity of being heard.

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