Penalty u/s 271(1)(c)
This query is : Resolved
16 January 2012
Dear Sir,
I wish to have your guidance on following :
For AY 2009 – 10
Assesse file return u/s 143 Self Assessment
Taxable income 24893.00
u/s 143(3) Assessing Officer (under Scrutiny) added Income 136502.00
Total 161395.00
Rounded off 161400.00
Tax Calculation :
First 150,000 @ Nil Nil
Balance 11,400 @ 10% 1140.00
Surcharge 34.00
Total 1174.00
Interest u/s/ 234 D 206.00
Total Demand 1380.00
Now I have received summon u/s 271(1)(C) for penalty
Question :
How much penalty can be levied u/s 271 (1)(C) on above case
I wish to have your guidance on following :
For AY 2009 – 10
Assesse file return u/s 143 Self Assessment
Taxable income 24893.00
u/s 143(3) Assessing Officer (under Scrutiny) added Income 136502.00
Total 161395.00
Rounded off 161400.00
Tax Calculation :
First 150,000 @ Nil Nil
Balance 11,400 @ 10% 1140.00
Surcharge 34.00
Total 1174.00
Interest u/s/ 234 D 206.00
Total Demand 1380.00
Now I have received summon u/s 271(1)(C) for penalty
Question :
How much penalty can be levied u/s 271 (1)(C) on above case
16 January 2012
Minimum Rs. 1,174/-
Maximum Rs. 3,522/-
Maximum Rs. 3,522/-
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