Sec 271f
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2014
i want to file my form 4s for for ay 2011-12 for bank loan purpose .my total inome during ay 2011-12 is 1,40,000 only .(no liability to flie return).i want to know that whether there is liability for penalty under sec 271f for late filing even though there is no liability to file return .please discuss
thanking you
thanking you
05 March 2014
no...271F clearly states that penalty can be applied only where the assessee was required to file return under section 139(1). so no penalty can be applied in your case.
05 March 2014
If ur income before chapter via deductions not exceeds basic exemption limit 271f not applicable
.
By the way it is not posaible for you to file return for a.y.2011-12 now as it is time barred after 31.03.2013
.
By the way it is not posaible for you to file return for a.y.2011-12 now as it is time barred after 31.03.2013
05 March 2014
thanks ganesh...i missed out that point. I read as if the querist has already filed the return and is querying for applicability of 271F on the return already filed!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Regarding appeal to GSTAT
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- LC charges in relation to Asset purchased should be Capitalised ?
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- Transporter Declaration form
- Copyright software
- Invoice V/S Goods receipt Note Date
- Form 121 & TDS deduction
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
