Late fiing of itr

This query is : Resolved

Rahul Patil (Querist)
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01 February 2013 Hi Sir,

I am a salaried employee.Employer had deducted my TDS for A.Y.2011-12 FY 2010-11 amounting Rs.1100 in same year. After calculation, my tax payable is Rs.824 refund Rs.277.Now I want to fill my ITR return.so Is it penalty for it.

CA. RAGHAV GARG

CA. RAGHAV GARG (Expert)
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03 February 2013 Yes Dear, since you are req to file return U/s 139(1) and not filed, you will have to bear fine of Rs. 5000/-

Plus you have to pay much more to CA for filing return else up to you.

NITIN SHARMA

NITIN SHARMA (Expert)
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04 February 2013 U/s 271f penalty can be levied of rs.5000.if there is no reasonable cause. if there is sufficiant cause for dely you can file return.

Nischit Sanghavi

Nischit Sanghavi (Expert)
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06 February 2013 As there is no tax payable from your side while filling the return, you need not require to pay the penalty. Penalty is leviable only when tax is payable. But in your case, you will get refund, so you canwithout any worry.

Please ask to any other also.

Rahul Patil

Rahul Patil (Querist)
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07 February 2013 Thank you So much.

NITIN SHARMA

NITIN SHARMA (Expert)
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07 February 2013 Mr.singhvi as per section 271f there is no such provision that in case of refund penalty u/s 271f will not attract.

CA. RAGHAV GARG

CA. RAGHAV GARG (Expert)
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08 February 2013 Singhavi saab, Penalty U/s 271F depends on whether you are required to file return or not u/s 139(1) read with proviso, and the answer is yes because if before taking deduction U/C VIA, if the assesse have income above the maximum amount not chargeable to tax than he have to file return. and penalty u/s 271f is imposable if reuired to file return u/s 139(1)

and also... at least any CA or Lawyer will take atleast more then Rs. 277 to file a return which is the total amount of Refund

Rahul Patil

Rahul Patil (Querist)
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18 April 2013 I am getting confused.Is the penalty payable or not

NITIN SHARMA

NITIN SHARMA (Expert)
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24 April 2013 Yes penalty can be levid of rs.5000 u/s 271f.

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