Return filing
This query is : Resolved
15 April 2014
In F.Y 2012-13 i.e. A.Y 2013-14, my income is below exemption limit but employer deduct TDS. I have not filed return till now, so if i file now, whether penalty of 5000 would be imposed or not?
Nikhil Kaushik
(Expert)
15 April 2014
no..penalty can be levied only where income was above taxable limit. therefore, in your case penalty can not be invoked
15 April 2014
thnx sir..... one more doubt tds deducted can be claimed as refund in above case?
Nikhil Kaushik
(Expert)
15 April 2014
yes...thats obvious...just file the return.
Rupesh Jain
(Expert)
16 April 2014
you can file the return if you income before taking deduction u/s 80 is below exempt limit.
otherwise you have to pay penalty. for late return filing
otherwise you have to pay penalty. for late return filing
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