Return 139(4)
This query is : Resolved
Udit Mathur
(Querist)
20 December 2011
The income of PY 09-10, if filled on 20/11/2011 would it be attracting the penalty of Rs. 5000 ?
As it is filled after the due date 31july but after the end of one year from the assessment year ends but after the end of AY
Thank you
As it is filled after the due date 31july but after the end of one year from the assessment year ends but after the end of AY
Thank you
CA Ashwani Agarwal
(Expert)
20 December 2011
If the income is taxable... It will definitely attract penalty..
If the return is below taxable limit, then as you were under no compulsion to submit the return. Therefor no penalty.
If the return is below taxable limit, then as you were under no compulsion to submit the return. Therefor no penalty.
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20 December 2011
agree with expert
Penalty u/s 271F of rs. 5000 is descretionery on the power of AO.
penalty is not mandatory it can be condone by AO if you have reasonable ground for delay in filling the return of income.
Penalty u/s 271F of rs. 5000 is descretionery on the power of AO.
penalty is not mandatory it can be condone by AO if you have reasonable ground for delay in filling the return of income.
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Udit Mathur
(Querist)
20 December 2011
Thank You ! I learned a great thing thank you again
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