13 October 2011
penalty u/s 271f has no relation with the amount of GTI, it simply says that if you file ur return after the end of assessment year then the penalty shall be leviable subject to the justification.
so the penalty is also leviable in the following situation
13 October 2011
There is a provision of penalty but normally penalty may not be imposed in this case in view of natural law. You can Claim the TDS through filing of Return.
Actually i have to file return for AY 2011-12 also at same income and same TDS, but i was thinking whether AO Can levy penaly for AY 2010-11 and deduct the penaly amount of Rs. 5000/- from aggregate of refunds i.e. 3000(AY 10-11) + 3000(AY 11-12) =6000/- and refund the balance amount. Pls suggest me whether i should file the returns for both the assessment years or not.
15 October 2011
Pardeep ,penalty u/s 271F levied in case assessee compulsorily required to file return U/s 139(1).....in your case if assesse is individual his GTI is Rs. 30000,so he is not required to file return...so penalty u/s 271 F not levied
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