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CA Chetan Singhal

CA Chetan Singhal (Querist)
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31 December 2012 What is the penalty if a partnership firm not submit his Income tax return before last date.

@VaibhavJ

@VaibhavJ (Expert)
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31 December 2012 Hi,

Infact no penalty, but u/s 271F : If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees

Thanks!!

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