27 July 2014
But since the return is being filed after 31.03.2014 penal provision of Section 271F will apply. Maximum penalty is Rs 5000/-
Section reads as follows--
"271F. If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees."
Querist :
Anonymous
Querist :
Anonymous
(Querist)
27 July 2014
Ok sir thanks. Can I get project report for financing Loan for jewelry shop??