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Is ther Any Penalt, When You Apply for Income tax, Even After paying GST From 2 years .

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9 Points Posted on 13 June 2022
My friend took the Gst Registration in Nov 2020 and he Had not apply for income tax till Now ! Is ther any penalty if he apply In 2022 ?
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On 13 June 2022 at 15:43 Report
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Chartered Accountant
86505 Points Posted on 13 June 2022
Not at all but If income is more than taxable limit then there may be chances of notice.
814 Reply
On 13 June 2022 at 16:26
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Chartered Accountant
5010 Points Posted on 13 June 2022

No, there is no such penalty, 

If the total income of the individual was less than Rs. 2,50,000 then he was not liable to file an income tax return. 

8 Reply
On 13 June 2022 at 17:35
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Chartered Accountant
86505 Points Posted on 13 June 2022
But in case income is above 2.5lakhs as stated above he is required to file return.
814 Reply
On 13 June 2022 at 17:59
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Profession Business
28207 Points Posted on 14 June 2022
Income tax act specifies pan registration for all assesses.There are specific rules for that.
44 Reply
On 14 June 2022 at 11:20
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Chartered Accountant
86505 Points Posted on 14 June 2022
What you want to say?????
814 Reply
On 14 June 2022 at 16:00
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Profession Business
28207 Points Posted on 15 June 2022
Explain what is your objection?
44 Reply
On 15 June 2022 at 09:18


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