Panelty u/s 271 F
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 February 2010
If a company have zero income or Loss and it not filed income tax return as per sec. 139(1).
Whether penalty of sec. 271 F is imposable on It?
Note : Income is Zero or Loss
Thanks
Whether penalty of sec. 271 F is imposable on It?
Note : Income is Zero or Loss
Thanks
04 February 2010
As per section 139(1)(a), a company has to necessarily file return of income every year. If they fail to do so penalty provisions of section 271F attracts.
04 February 2010
Agree with Mr. Chackrapani. 271F will be applicable if company didn't file return till end of relevant A.Y.
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