For income tax ay 2016-17
anil shah (STUDENT) (85 Points)
09 April 2017
Can i file income tax return AY 2016-17 with tax liability.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161012 Points)
Replied 09 April 2017
Yes u/s 139(4) upto 31.03.2018, alongwith interest on late payment of tax.
anil shah
(STUDENT)
(85 Points)
Replied 09 April 2017
Thanks sir
any penalty if taxable income 5 lac and source of income business.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161012 Points)
Replied 09 April 2017
Income tax officer may levy a penalty of Rs. 5000 under Section 271F for late filing of income tax return. This penalty is not levied in all cases and is at the sole discretion of the assessing officer.
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