CA in service & CS. dipmaj@
3469 Points
Joined June 2011
Kavitha
Just to share, penalty can be levied under section 271F for 5,000 in case of belated filing of returns. It is another matter that this section is not strictly enforced by Revenue and is discretionary to be imposed by AO. But it is there and who knows, to mop up funds for Ministry, may be made mandatory.