Notice u/sec 154 of income tax act

21 September 2019
Dear sir,
I am president of trust which undertook various social activities, for Ay 2018 19 i was filed NIL Income Tax return on 01 Mar 2019 (Beyond due date) u/sec 139(4). On 09 Sep 2019 i received notice u/sec 154 proposing levy fee u/s 234F effecting enhancing the demand, further they gave me 15 days time to reply the same. View it is kindly requested that, what reply should i give to avoid levy fees u/sec 234F. It is pertinent to mention that, the trust have Nil income for Ay 2018-19. Thanks and Regards.

Gokul Sharma (Expert)
21 September 2019
As per a recent ruling under Section 234F of the Income Tax Act, taxpayers must pay penalty for delay in filing ITR. In simple words, if you fail to file your tax returns within the standard deadline of 31st July, you might end up paying up to INR 1,000 as penalties.

You need to be the querist or approved CAclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

GST Live Class
Get Income Tax App    |    x