GST Plus - Get Daily updates,support, whatsapp Group & reply to GST Notices etc.!! Call : 011-411-70713 !!


Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

what is Section 271F?

This query is : Resolved 

Dear all,
Please give provisions of Section 271F of Income tax Act.

Thanking you.

As per provisions of Sectin 139(1) of the Income Tax Act, 1961, every person whose total income exceeds the maximum amount, which is not chargeable to income tax, shall by the due date, file his return of income in prescribed form. Failure to do so by the due date or before the end of relevant assessment year will attract penalty under Section 271'F of IT Act 1961, amounting to Rs. 5000/-.

Thank you dear.
I have still doubt that if a person files return for A.Y.2007-08 after 31-03-2008, will penalty under Section 271F leived or not?
Kindly give reply.
Thanking you


If the Gross Total income is below the exempted limit, return can still be filed after the end of relevent A.Y. without attracting section 271F

U/S section 271F the powers given to the assessing officers are discretionary, not mandatory, So in the case if the income is above taxable limit, the return filed after 31.03.08 for AY 2007-08, The AO may levy the penalty of sum mentioned above.

agree with the experts

If return filed after due date, but before date of limitation, I.e. Due date 31/07/2008 filed on29/03/2009, and it is a return of refund of info.e tax, can the penalty be levied, if assessment hadalreadybeen done or refund received?

but penalty is only Rs.5000/-

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries


Trending Tags