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Income Tax Return

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(Querist)
29 March 2011 I filed my Income tax Return for A.Y 2009-2010 on 27th MArch,2011 , My Income exceed exemption Limit, I paid Self Asst Tax properly. Is their any other Penalty.
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CA Navin Jain

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CA Navin Jain (Expert)
29 March 2011 NO ANY PENALTY EXCEPT INTEREST
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Nitesh

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Nitesh (Querist)
29 March 2011 I heard about Rs.5000/- Penalty . What it is Actually
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CA Madhu Soodan Tapuriah

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CA Madhu Soodan Tapuriah (Expert)
29 March 2011 you shall have to pay penalty of Rs 5000 by virtue of Sec 271F of the income tax act
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
29 March 2011 Yes Penalty is attracted u/s 271F. Last date of filing return u/s 139(4) without penalty u/s 271F, in your case was 31.03.2010. Since return is filed after 31.03.2010 Penalty of Rs 5000/- (Max penalty) is attracted.
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