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)

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)

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)

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)

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)

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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