NIL ITR AND PENALTY ISSUE
This query is : Resolved
27 October 2019
SIR
IF THE INCOME IS NOT TAXABLE ( NIL ) RETURN EVEN IN SUCH CASE WHETHER THE 234-F PENALTY SHALL BE IMPOSED
PLEASE CONFIRM
IF THE INCOME IS NOT TAXABLE ( NIL ) RETURN EVEN IN SUCH CASE WHETHER THE 234-F PENALTY SHALL BE IMPOSED
PLEASE CONFIRM
28 October 2019
Please mention your Total income by category wise
28 October 2019
SIR
INCOME FROM TUITION CLASSES RS 297550
SAVING BANK INTEREST RECEIPT RS 844
TOTAL INCOME 2,98,394
DATE OF BIRTH 24-04-1956 ( SENIOR CITIZEN)
INCOME FROM TUITION CLASSES RS 297550
SAVING BANK INTEREST RECEIPT RS 844
TOTAL INCOME 2,98,394
DATE OF BIRTH 24-04-1956 ( SENIOR CITIZEN)
28 October 2019
NO,No need to file a Tax Return.
OK
OK
28 October 2019
NO,No need to file a Tax Return.
OK
OK
29 October 2019
Yes... I agreed to Mr CMA Sivakumar.
In case Assessee will be file his ITR then sec 234F is not applicable.
29 October 2019
I have been advised to file the return just to regularize and to avoid non-filing issue irrespective of taxable or non-taxable issue
01 November 2019
As the Assessee is Senior Citizen the exemption limit is Rs.3,00,000/- and your Gross Total Income is below Rs.3,00,000/- then it is not mandatory for you to file ITR. In this case, if you voluntary file your ITR, no Late fee will be levied
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