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Procedure for (online) late payment

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 July 2010 This is the first time I'm going to file my return. I'm going to do it online to file my return for FY 2008-2009 (AY 2009-2010). Based on the calculations I'm not required to pay any tax for FY 2008-2009.

I have found out that under section 271F, there is a penalty of Rs. 5000 for late filing. So should I voluntarily pay the penalty of Rs. 5000? or should I wait for any notice?

For e-payment using the online CHALLAN NO./ITNS 280 form, what should I select as "Type Of Payment" in that form?


Any help is appreciated.
Thanks.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
23 July 2010 No penalty since your return is nil return.
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Akhil Agrawal

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Akhil Agrawal (Expert)
24 July 2010 but i think 271F says if u had the Gross Total Income more than the exemption limit - i.e. u had liability to file the return then there is a penalty.

In your case u need to check ur GTI.
if penalty is levied then do nt deposit it now let the demand be served on u then u deposit
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mohinder kansal

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mohinder kansal (Expert)
24 July 2010 no penalty can be imposed without giving a reasonable oppurtunity to explain.
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