NIL ITR AND PENALTY ISSUE

This query is : Resolved

TARIQUE RIZVI (Querist)
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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)
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28 October 2019 Please mention your Total income by category wise

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
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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)
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28 October 2019 NO,No need to file a Tax Return.
OK

CMA SIVAKUMAR A,ACMA.

CMA SIVAKUMAR A,ACMA. (Expert)
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28 October 2019 NO,No need to file a Tax Return.
OK

RAJA P M

RAJA P M (Expert)
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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)
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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)
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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