Regarding panelty u/s 271f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2015
Namaskar to all,
I have one question, if taxable income for the asstt yr. 2014-15 is Rs. 2.90 Lac after giving effect of Rs. 1.00 Lac under chapter VI-A it comes to Rs. 1.90 Lac. panelty u/s 271F should imposed or not, if ITR filled after 31.03.2015.
Thanks.
I have one question, if taxable income for the asstt yr. 2014-15 is Rs. 2.90 Lac after giving effect of Rs. 1.00 Lac under chapter VI-A it comes to Rs. 1.90 Lac. panelty u/s 271F should imposed or not, if ITR filled after 31.03.2015.
Thanks.
14 April 2015
Yes, 271F penalty can be levied since return filing is mandatory,in the cited case, as per the last proviso to section 139(1).
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2015
Thanks for your valuable advice.
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