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Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 Dear Sir,
In one case assessee has agriculture income of Rs. 4 lacs and his non-agriculture income was below the exemption limit about 1.5 lacs in FY 2011-12.
If he files his income tax return for the AY 2012-13 now then penalty for late filing and tax will attract or not.

Please clarify.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 yes under sec 271F penalty levieable.

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 despite that the non- agriculture income is below exemption limit?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 yes as in this case u need to file return.

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 but in a similar query "section 271F" wherein you have also replied today, Mr. Paras Bafna said that penalty will not levied?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 that was for AY 2012-13.

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 I am also asking for the AY 2012-13 (fy 2011-12)

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 Sorry i read as AY 11-12 so my ans will change that till 31.3.2014 u can fiel belated return u/s 139(4).

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2013 Now what is your opinion, whether the penalty will attract or not in above case?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 the ans is no as still time is left for filling return.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 December 2013 have to disagree. 271F applies where you dont file the return by the end of the assessment year. FOR AY 2012-13, that shall be 31 March 2013.

Though you still have the option of filing the belated return till 31 March 2014, 271F does get invoked.

For easy reference, 271F reads as under

" 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.]"

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 December 2013 However, in your particular case you might be able to avoid 271F not on the basis of proviso of 271F but on the fact that 139(1) was not applicable to you can agriculture income is not considered in total income s covered under section 5.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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31 December 2013 Nihkil can go through this link, hon'able learned expert Mr Paras Bafna on same issue have commented against your ans.

https://www.caclubindia.com/experts/section-271-f-1567229.asp#.UsMxH9JDtA0

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 December 2013 i have already done that friend. But I hope you have referred to 271F doesnt borrow its source from 139(4) but 139(1).

Nikhil Kaushik

Nikhil Kaushik (Expert)
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31 December 2013 i have already agreed that penalty is not leviable in the instant case but on account of time permitted under 139(4) but on the ground that total income doesn't include agriculture income and therefore 139(1) doesn't apply in the instant case.

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