Should i file return or not?

This query is : Resolved

CA. Niranjan Kumar (Querist)
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05 August 2011 Sir,
i had income but not exceeding the exemption limit chargable to tax for A/Y:2010-11, on which TDS has been deducted.
My confusion is that-
if i file return now, can penalty u/s 271F be levied, as 31st march of 2011 has passed?
My income is Rs.30000 and TDS is Rs.3090
someone said me that you should not file return for A/Y:2010-11 now.

Thanks.........
Niranjan

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 August 2011 AY is presumed as assessment year.
Return can be filed now if u seek refund.
Since income is Rs.30,000/- only,penalty provisions will not apply.

CA. Niranjan Kumar

CA. Niranjan Kumar (Querist)
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06 August 2011 Thank You sir for your reply. But i want to know the reason for why will penalty provision not apply?

Niranjan

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 August 2011 Not supposed to file return mandatorily under section 139(1) since total income is Rs.30,000/-,hence penalty provision under section 271F does not attract.

CA. Niranjan Kumar

CA. Niranjan Kumar (Querist)
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06 August 2011 Thank You very much sir for solving my doubt.

Niranjan

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