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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- CLOSING STOCK QUERY
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Rent claimed on building given on permissive possession basis
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Grand in aid
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
