Penalty u/s 271f

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 April 2015 respected sir one of my client have not filed his income tax return for the period AY 2014-2015. his total income is Rs. 216230/- and Gross Income is Rs. 278560/- he have not paid any TDS or Advance Tax.
and as per computation his tax liability is nil i.e zero. (he taken relief us 87)
May Please told me in this situation can he liable to pay penalty(u/s 271f) of late return filing

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

25 April 2015 Yes. Penalty may be levied by AO. Levy of penalty is at the discretion of AO after giving assessee an reasonable opportunity of being heard. Rs 5000/- is maximum penalty. AO may or may not levy penalty. In such cases penalty is very rarely imposed.

Querist : Anonymous

Querist : Anonymous (Querist)

27 April 2015 thanks sir...
but what is the solution. can i file the return or not ?
he dont have a tax liability.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

27 April 2015 Off course you can file the return.

Querist : Anonymous

Querist : Anonymous (Querist)

30 April 2015 thanks you so much sir..............

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