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hemant (Querist)
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31 July 2017 My Commission Net Profit = 310000/- LIC=42500 . Can I File IT return A. Y 2017-18 after 31 July 2017. Any Penalty or Interest rule. ?

sivaram (Expert)
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31 July 2017 Penalty is there under 271 F but mostly be waived and no need to pay penalty at the time of filing the return of income

RAJA P M (Expert)
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31 July 2017 Your above said income is no liability. SO, You don't want filing.
In case you have any TDS from commission then you want file your ITR

Studentsca (Expert)
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31 July 2017 You can file after 31st July (Now 5th August).
No interest or penalty is leviable.
However it will be a belated return.

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