Sec 271f

This query is : Resolved 

06 July 2013 Can anyone explain me the meaning of sec 271F of the Income Tax Act

07 July 2013 if you are required to file return under section 139(1) and not filed return with in end of relevant assessment year AO may demands you Rs.5000 penalty from you,

suppose for A.Y.2013-14 if you fail to file return with in end of relevant assessment year which is with in 31st march 2014 then you are asked o pay penalty of 5000


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