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Sec 271f

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2012 Can a persona who is not liable to pay tax and hence he is not liable to submit income tax return u/s 139(1),file return after the end of assessment year(but before the expiry of one year from the end of relevant assessment year) without attracting penalty u/s 271F i.e Rs. 5000 ?????

I don't think that penalty would be attracted. What do you say about this.?

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CS ANAND RAVADA

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CS ANAND RAVADA (Expert)
18 July 2012 penalty does not arise
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