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Query regarding penalty

This query is : Resolved 
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(Querist)
04 September 2018 Dear Sir/Mam, Plz tell me If I am filing the return after 31 aug 2018 for A.Y 2018-19 and my gross total Income is Rs. 300000/- after deduction my net Income is Rs. 247000/- .My query is the penalty of 1000 rs is liable in gross income or in net income..
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CA Ankit R Momaya

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CA Ankit R Momaya (Expert)
04 September 2018 Yes, Penalty u/s 234F will be levied as you are liable to file your returns and your Gross Total Income exceeds the basic exemption limit.
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