Appeal & Revision.
This query is : Resolved
05 December 2009
If return has not been filed for since last three years because income was not exceeding the taxable Income Limit ie 150000 .
if asseesee wants to file the return voluntarily to avoid future proceedings .
whether assessee can file return before at this time or there will be any fine or proceedings if not filed .
wht shall be the consequences .
If return has not been filed for since last three years because income was not exceeding the taxable Income Limit ie 150000 .
if asseesee wants to file the return voluntarily to avoid future proceedings .
whether assessee can file return before at this time or there will be any fine or proceedings if not filed .
wht shall be the consequences .
05 December 2009
Sec. 139(1) requires filing of return if income without giving exemption u/s 10 exceeds exemption limit.
However, assessee can file voluntary return & it can be belated.
You may note that there will not be any penalty u/s. 271F. The said section imposes penalty of Rs. 5000 if the return was required to be filed u/s. 139(1) & it is not filed. It does not apply to voluntary return.
However, assessee can file voluntary return & it can be belated.
You may note that there will not be any penalty u/s. 271F. The said section imposes penalty of Rs. 5000 if the return was required to be filed u/s. 139(1) & it is not filed. It does not apply to voluntary return.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Fixe term employment
- Withdrawal in cash from partners capital account by partner
- Consolidated financials
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Renovation exp. in flat by family member
- Starting trading business
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
01 September 2026
Articles
Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Foundation
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
16 September 2026
Article Assistant
MANUJ SHARMA AND COMPANY
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
