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Sec 271f

This query is : Resolved 
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(Querist)
05 August 2012 if i fileed the return ay 11.12 after assesment then ao can impossed compulsory panalty of 5000 if
1. return is filled nil
2. return if filled with tax paid
3. retun is filled with refund claimed
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CA Amit Jaiswal

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CA Amit Jaiswal (Expert)
05 August 2012 The penalty u/s 271F is for non filing of ITR. The amount of Tax payable/refund is irrelevant for this. AO can impose penalty.

If the assessment was not over, then you had the option of filing the belated return till 31.03.2013
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CA Guru M

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CA Guru M (Expert)
05 August 2012 In addition to Mr.Amit reply In case of tax payable Interest will be imposed along with penalty for delay in return filing.

In case of refund Interest will be given from the date of return filing.
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Naresh Kansala

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Naresh Kansala (Expert)
05 August 2012 In addition to above; sec 271f is applicable if person is liable to file return under sec139(1)
I.e. if person have total income bellow exemption limit n have refund via tds deducted on income then sec 271f is not imposed by AO.
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
06 August 2012 yes if taxable income below the taxable limit than a.o can not imposed penalty u/s 271f.
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