NIL ITR AND PENALTY ISSUE

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This query is : Resolved

TARIQUE RIZVI (Querist)

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

CMA SIVAKUMAR A,ACMA.

CMA SIVAKUMAR A,ACMA. (Expert)

28 October 2019 Please mention your Total income by category wise

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

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)

CMA SIVAKUMAR A,ACMA.

CMA SIVAKUMAR A,ACMA. (Expert)

28 October 2019 NO,No need to file a Tax Return.
OK

CMA SIVAKUMAR A,ACMA.

CMA SIVAKUMAR A,ACMA. (Expert)

28 October 2019 NO,No need to file a Tax Return.
OK

RAJA P M

RAJA P M (Expert)

29 October 2019 Yes... I agreed to Mr CMA Sivakumar. In case Assessee will be file his ITR then sec 234F is not applicable.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)

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

CA Shiv Kumar Sharma

CA Shiv Kumar Sharma (Expert)

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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