belated return penalty U/s271
This query is : Resolved
19 February 2009
respected members ,
I want to know whether return of F Y 2006-2007 , can be filled in case where asessee is not liable to any tax , will he still be levied with penalty u/s 271 (1) of RS 5000
I want to know whether return of F Y 2006-2007 , can be filled in case where asessee is not liable to any tax , will he still be levied with penalty u/s 271 (1) of RS 5000
19 February 2009
if his GTI was exceeding the exempt limit, then penalty may be levied but that is totally optional on AO
20 February 2009
thanks sir for clarification
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