late return penalty of RS.5000
This query is : Resolved
26 March 2010
plz let me know when is the penalty of Rs.5000 liable on late return filing with an example.
Amit Bajaj
(Expert)
26 March 2010
Penalty of Rs. 5000 for late filing of return is leviable u/s 271F if the return of Income is filed after the end of relevent assessment year.
If the return for the A.Y 2009-10 is filed after 31st march 2010 sction 271F is attracted.
If the return for the A.Y 2009-10 is filed after 31st march 2010 sction 271F is attracted.
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CA Ashok Kumar Sahu
(Expert)
26 March 2010
agree with expert
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