Sec 271f: applicability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 March 2012
Hello,
Sec 271F applies if Commissioner levies penalty upto Rs.5000 on return filed after the completion of Assessment Year.
Now my question is can he levy this penalty if the assessee did not have income greater than the maximum amount not chargeable to tax? Say if his income is less than even Rs.150000 but today he files return for AY10-11, can the Commissioner levy penalty?
Sec 271F applies if Commissioner levies penalty upto Rs.5000 on return filed after the completion of Assessment Year.
Now my question is can he levy this penalty if the assessee did not have income greater than the maximum amount not chargeable to tax? Say if his income is less than even Rs.150000 but today he files return for AY10-11, can the Commissioner levy penalty?
12 March 2012
Penalty can't be levied since in this case return filing is not mandatory.
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