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PANELTY OF IT

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Guest (Querist)
10 November 2010 good morning sir,
is it true that if we late deposit income tax return in due date (31 july,15 oct,) & deposit it after one year .than panelty will be 5000-10000 .
regards
rajiv
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
10 November 2010 Pl go through section 271F. it says Rs. 5000/-
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10 November 2010 thanks sir ,
i read section 271F. but sir it is right that if we late deposit income tax return in due date (31 july,15 oct,) & deposit it after one year .than panelty will be 5000
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