Penatly for late filling of return

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Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 If a partnership firm has not filled return for a.y.11-12 & 12-13 as there is no tax liablity and but there tds claim for both the year.so is there any penalty for a.y.11-12 if he filled return before 30 sep 2012? and he will get tds refund for a.y.11-12 ?
reply its urgent

Amol S Joglekar

Amol S Joglekar (Expert)
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18 September 2012 The return for the assessment year 2011-12 may be filed. The refund will be given subject to however his other dues with the department.

Pankaj Gupta

Pankaj Gupta (Expert)
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18 September 2012 As for AY 11-12, return is not filed upto 31 march 2012, therefore a penalty of Rs 5000 u/s 271f shall be levied.

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 As There Is No Tax Liability Just TDS Refund Claim Is There.Sot It Will Attract Penalty U/s 271f??????

Pankaj Gupta

Pankaj Gupta (Expert)
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18 September 2012 Sec 271F says that every person who is required to file a return u/s 139(1) will be penalized in case of non filing of return. As a firm is required to file a return u/s 139(1) in every cases (even in case of loses), therefore such penalty get imposed on it.

Pankaj Gupta

Pankaj Gupta (Expert)
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18 September 2012 But as per sec 273B ,such penalty shall not be imposed if the failure is due to reasonable cause as per satisfaction of AO.

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2012 As There Is Only a Rent Income And Tds Is Deducted Its claim Is Rs.32421 So It Will Attract Penalty u/s 271f????

Pankaj Gupta

Pankaj Gupta (Expert)
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27 September 2012 As per law penalty should be imposed. But there is a provision that AO may waive such penalty. So it all depends upon the AO, Whether he imposes penalty or not.

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