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Penalty

This query is : Resolved 
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(Querist)
14 August 2011 In assessment year 2010-11, i am not filling return , n TDS deduct 5000 from insurance income , what is penalty if i return file know
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PRAMOD PANDIT M.COM , CA FINAL

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PRAMOD PANDIT M.COM , CA FINAL (Expert)
14 August 2011 Nothing
just e file return and take refund if income not cross basic limit
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BHAI(SAI) DUPARE

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BHAI(SAI) DUPARE (Expert)
14 August 2011 Agree with Expert
if tax liability is less than TDS then u can claim refund.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 August 2011 It depends on your income. If the income is more than the exempted limit then you shall be charged with a penalty of Rs. 10,000/-. In case your income is below taxable limit then the experts are right
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vinay_1986_2005@yahoo.co.in

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vinay_1986_2005@yahoo.co.in (Querist)
18 August 2011 Thanks to all
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