Return of income
This query is : Resolved
11 July 2013
Whether penalty for late filing of return of income is to be levied in.case nil return or refund to be claimed....
kindly assist on priority
kindly assist on priority
Pankaj Sharma
(Expert)
11 July 2013
If AO is satisfied with valid reasons for not filing the nil return, then he may waive the penalty. In most of cases, AO does not levy the penalty in such cases in practical life.
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