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It return query

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CA Ronak Garodia

CA Ronak Garodia (Qualified Chartered Accountant)   (125 Points)
Replied 23 March 2014

If ur total income exceeds maximum amount not chargeable to tax and u file a belated return..... penalty may be imposed on satisfaction of AO....


CA Ronak Garodia

CA Ronak Garodia (Qualified Chartered Accountant)   (125 Points)
Replied 23 March 2014

Check the provision of sec 271 & Sec 139. Sec 271 clearly states that if aperson who is reqd to furnish ROI fails to furnish return penalty of Rs 5000/- shall be imposed..... Now Sec 139 states that any person whose total Income without giving effect provision of chp VI- A exceeded the maximum amount nor chargeable to tax ie Rs 180000/Rs 190000/ Rs 250000 as applicable. Shall furnish ROI.....

CA Ronak Garodia

CA Ronak Garodia (Qualified Chartered Accountant)   (125 Points)
Replied 23 March 2014

But penalty imposed is in very rare cases.......


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