Penalty on late filing of tax return

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sanjay (Querist)
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10 August 2014 Hello All
Happy Rakhi
Sir
I have to file return for the asstt year 2013-14 today. Can I file it and is there any penalty for late filing even the gross total income is below taxable?
Kindly reply soon. I shall be obliged.
Regards
Sanjay

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 August 2014 you can file till 31.3.2015 and ao may impose 5000 penalty

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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10 August 2014 Yes you can file belated return u/s 139 (4) upto 31.03.2015. Penalty u/s 271F (Maximum Rs 5000) not applicable for you since your Gross Total Income is below the exemption limit.

Rupesh Jain

Rupesh Jain (Expert)
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11 August 2014 if your income is below exemption limt then penalty of rs. 5000/- not imposed. you can file the return up to 31.3.2015

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