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Late filing of return of income

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Querist : Anonymous

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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.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 September 2014 Rs 1 lakh penalty can be under section 271B
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
23 September 2014 Rs 1 lakh penalty can be under section 271B
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CA P K AGRAWAL

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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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CA P K AGRAWAL

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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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CA P K AGRAWAL

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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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