Sections 147 and 271F have both been issued.
This query is : Resolved
15 June 2024
Dear Sir,
I received a notice under Section 147 about a year ago for the 2015-2016 fiscal year for not filing my returns, but I did not respond for an entire year. They sent multiple reminders, but I ignored them based on advice from some people.
Meanwhile, I received the latest proceeding under Section 147 with some penalties a month ago, asking me to submit a response.
Yesterday, I received a notice under Section 271F with a penalty of Rs. 5000/-.
My question is, do I need to pay the amount as per the Section 147 proceedings or the Section 271F notice penalty? In the Income Tax outstanding demand section, I see notices with different amounts.
Please advise.
Thank you.
I received a notice under Section 147 about a year ago for the 2015-2016 fiscal year for not filing my returns, but I did not respond for an entire year. They sent multiple reminders, but I ignored them based on advice from some people.
Meanwhile, I received the latest proceeding under Section 147 with some penalties a month ago, asking me to submit a response.
Yesterday, I received a notice under Section 271F with a penalty of Rs. 5000/-.
My question is, do I need to pay the amount as per the Section 147 proceedings or the Section 271F notice penalty? In the Income Tax outstanding demand section, I see notices with different amounts.
Please advise.
Thank you.
16 June 2024
dear Narasimha,
right now there should not be any demand. Just the notice. Only after the order is passed, this demand is crystalized. My suggestion is that you comply with 147 notice and respond to it properly. Otherwise, the AO may pass best judgment assessment.
right now there should not be any demand. Just the notice. Only after the order is passed, this demand is crystalized. My suggestion is that you comply with 147 notice and respond to it properly. Otherwise, the AO may pass best judgment assessment.
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
- ITR-Capital Gain
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- IT returns for fresh job holders
- F&O reporting in ITR
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Sale of Mutual Funds In Diffirent Financial Years
- CASH GIFT FROM BLOOD RELATIVE
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
