Penalty on late nil income tax return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 June 2013
Dear All,
There is penalty on nil income tax return filing for Financial year 2010-11?
If Yes? how Much?
There is penalty on nil income tax return filing for Financial year 2010-11?
If Yes? how Much?
CMA Ramesh Krishnan
(Expert)
03 June 2013
Sec.271F described ,if a person who required furnish his return of income as required u/s.139. In case u/s.139 you need to file the return but failed to file then penalty will be Rs.5000/- even nil return also.
04 June 2013
Income tax return for the financial year 2010-11 can't be filed voluntarily right now, being barred by time. Hence question of penalty doesn't arise.
CMA Ramesh Krishnan
(Expert)
04 June 2013
Agreed with Mr.Chackrapani Warrier sir
Message likes :
1 times
04 July 2013
If you have not filed the Nil return in time then you have to pay the penalty
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