Late filing of return of income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2014
The assessee filed an income tax return on 29/03/2014 and audit report for financial year 2011-12 relating to assessment year 2012-13. What are the consequences or levying of penalties in this case.
Nikhil Kaushik
(Expert)
23 September 2014
Rs 1 lakh penalty can be under section 271B
Nikhil Kaushik
(Expert)
23 September 2014
Rs 1 lakh penalty can be under section 271B
CA P K AGRAWAL
(Expert)
24 September 2014
Mr Nikhil Kaushik is right but it is half % of turnover, subject to maximum of Rs.1 lac
CA P K AGRAWAL
(Expert)
24 September 2014
Mr Nikhil Kaushik is right but it is half % of turnover, subject to maximum of Rs.1 lac
CA P K AGRAWAL
(Expert)
24 September 2014
Mr Nikhil Kaushik is right but it is half % of turnover, subject to maximum of Rs.1 lac
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