Return for a.y. 2011-12
This query is : Resolved
04 August 2012
My client’s TDS was deducted of Rs. 2140/- u/s 194J of Income Tax Act for A.Y. 2011-12. Her total income was below the basic exemption limits for A.Y. 2011-12. She failed to file return for A.Y. 2011-12. If she file return for A.Y. 2011-12 before 31.03.2013, Will penalty u/s 271F (Rs.5000/-) be imposed? Is it benefitable to file return because TDS deducted only of Rs. 2140/- and if penalty will impose of Rs. 5000/- then there is no meaning to file return. What to do now to get refund?
CA PARAS BAFNA
(Expert)
04 August 2012
Refund can be received only by filing a return. No penalty is leviable as the income is below taxable limit. File the return and
start the countdown for refund.
.
start the countdown for refund.
.
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