Income tax non filling Return penlty un Sec. 139
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2010
i want to know how much I.T.O. can charge penalty for non filling of return under section 139
my email id - parmarnj@yahoo.co.in
my email id - parmarnj@yahoo.co.in
24 September 2010
Pl see section 271F of the Income tax Act,1961.
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24 September 2010
Penalty for failure to furnish return of income.
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.
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.
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