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Belated ITR
What is the last date of filing ITR for AY 2016-2017..?
Replies (7)
one can file belated return for AY 2016-17 upto 31.03.2018, but if filed after 31.03.2017, AO may levy penalty of upto Rs. 5,000/-
under which section of IT ACT penalty could be levied ..?
could penalty would also be levied even if income declared is below the taxable limit...???
Under Section 271F, the tax officer may levy a penalty of Rs 5,000 for failure to furnish return of income. The penalty for any delay is not levied automatically and is at the sole discretion of the tax officer.(For AY2016-17).
Tax officer may not levy Penalty if there is no Tax evasion(below taxable limit)
does it mean that if income is below taxable limit penalty will not be lived ...?
yes,will not be levied
thanks Ravi.. .
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