Client missed filling returns for FY 2021- 22, got to know from the message received from Income Tax department that Return was not filed. Now when go to file the return which become updated return, there is penalty of 25% of tax amount applicable. Is there a recourse to get relief on the penalty and avoid paying the same.
26 March 2024
If there is a genuine reason for not filing Income Tax Return, then there is a option to make an application u/s 119(2)(b) requesting the commissioner of Income Tax to condone the delay in filing the income tax return. However, the same will be condoned iff there is a genuine cause for delay in filing of income tax return
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