Ay 2014-15 return not yet filed
This query is : Resolved
28 March 2015
If a SALARIED INDIVIDUAL files his IT return for a.y. 2014-15 after 31st March, 2015 then what are the consequences?
Is there any specific procedure to be followed?
Is there any specific procedure to be followed?
28 March 2015
File the return of AY 2014-15 within 31.03.3015 to avoid penalty of Rs 5000/- u/s 271F. If return filed after 31.03.2015 AO may impose a penalty of Rs 5000/- u/s 271F. Rs 5000/- is maximum penalty which is at the discretion of AO after giving assessee an reasonable opportunity of being heard.
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