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Penalty for late itr filling

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(Querist)
05 August 2013 What is the rate of penalty for ITR late filling.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 August 2013 If you are required to file your Return u/s 139(1) but you file your return after the the end of relevant assessment year then a penalty of Rs 5000/- may be imposed by AO u/s 271F.

Say return for AY 2013-14.
Due date 05.08.2013.
If filed after 05.08.2013 but on or before 31.03.2014 then no penalty. If filed after 31.03.2014 penalty of Rs 5000/- may be imposed by AO.
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RAJ KUMAR JHA

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RAJ KUMAR JHA (Querist)
05 August 2013 For everyone.
I mean Individual/Company etc. is charged same amount of penalty
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
05 August 2013 Yes this penalty applicable to all assessee.
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