Return filing

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AMAN JAIN (Querist)
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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

Nikhil Kaushik (Expert)
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15 April 2014 no..penalty can be levied only where income was above taxable limit. therefore, in your case penalty can not be invoked

AMAN JAIN

AMAN JAIN (Querist)
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15 April 2014 thnx sir..... one more doubt tds deducted can be claimed as refund in above case?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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15 April 2014 yes...thats obvious...just file the return.

Rupesh Jain

Rupesh Jain (Expert)
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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

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