Income Tax Return
This query is : Resolved
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.
CA Navin Jain
(Expert)
29 March 2011
NO ANY PENALTY EXCEPT INTEREST
29 March 2011
you shall have to pay penalty of Rs 5000 by virtue of Sec 271F of the income tax act
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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