Penalty u/s 271 f

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 February 2013 I have to file a belated return u/s 139(9) and there is a penalty of Rs. 5000/- on it.
Please let me know that when and how i have to pay this penalty.
And if i take this much amt. from client and will not pay to deppt. what are the consequences??
Please Reply
Thanx.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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27 February 2013 if return is after completion of A.Y. then 271(F) is applicable
like for F.Y. 2012-13 you can file return till 31-3-14 for without 271(F)
but in 139(9) you can file return till 31-3-15 but 271(F) will be applicable

Guest

Guest (Expert)

27 February 2013 DEAR,

PLEASE DO NOT PAY PENALTY AT THE TIME OF FILING BELATED RETURN.

FILE YOUR RETURN WITHOUT PAYMENT OF PENALTY.

AND

DO NOT GET MONEY FROM CLIENT FOR PENALTY AMOUNT.

TO RECOVER PENALTY IS AN ISSUE/PROBLEM OF INCOME TAX DEPARTMENT. BUT NOT OF YOU.

IF IT DEPARTMENT WILL DISCOVER YOUR BELATED RETURN AND DECIDE TO LEVY PENALTY THEN THEY WILL SEND NOTICE TO YOUR CLIENT TO PAY THE SAME.

OTHERWISE, DO NOT PAY ANY PENALTY AMOUNT.

TO LEVY PENALTY IS A DUTY OF DEPARTMENT BUT NOT OF OURS TO PAY.

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