Is it possible to file ITR u/s119(2)(b) by an individual for A.Y 2018-19(FY 2017-18) in July 2020 just to show incomes which are exempt from income tax ?If yes what reason one should give for not filing ITR within stipulated time of end of respective assessment year? Will there be any penalty?
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Filing of ITR for A.Y 2018-19 in 2020
Replies (5)
Quick Summary
1. RETURN NOT FILED FOR AY 18 19
PENALTY WILL BE IMPOSED U/SEC 234 B AND U/SEC 234C.
IS IT ABOVE THRESHOLD LIMIT.
PENALTY WILL BE IMPOSED U/SEC 234 B AND U/SEC 234C.
IS IT ABOVE THRESHOLD LIMIT.
The person has only exempt income u/s 10(10D) to show (though more than 2.5lakhs), and no other taxable income. So, how is it possible to levy interest under 234B,C?
You can't file for AY 2018-19 unless you receive any notice from the dept. Even if you file returns now you have to paay late fee of ₹1000 u/s 234f
| Originally posted by : jacinthamary | ||
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You can't file for AY 2018-19 unless you receive any notice from the dept. Even if you file returns now you have to paay late fee of ₹1000 u/s 234f |  |
The mentioned situation is under 119(2)(b) i.e after condonation of delay in filing of return by the A.O and no taxable income for such person in that year. So how 234F applicable?
Filing itr u/s 119(2)(b) applicable only if there is any refund or deduction or exemption. Further it can be filed only after filing condonation. If original filing is not done within the prescribed time then 234F min of ₹1000 should be levied. If the notice issued by department and now you're replying to that notice by filing u/s 119(2)b then 234f is not applicable. This is my understanding of sec234f
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