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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Capitalgain tax purposes for valuation report compulsory
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- Oct 2025 Invoices
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- Non filing of I T Returns
- Under marginal scheme
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- TAX AUDIT ON PROFESSIONAL INCOME
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
