Late itr file penalty

no penalty/prosecution even if ROI filed after expiry of relevant AY if balance of tax on income assessed after deducting tds and advance tax is rs 3000 or less.

mr. Choudhary this condition applies only to prosecution proceedings and for penalty proceedings. correct me if iam wrong

thanks for rply , actuly my total income annualy is only 1 lakh RS . and you mean to say ,i wil not get any penality bcuz my income is low after all deduction ???

what it means now sir,,please help

yes, Mr rama krishnan you are right, that condition is for prosecution only. But since no tax was payable no interest/penalty will be levied

Oky thankyou so much for your answer Parshant sir 

sir.i am an accountant and if i file my return below taxable after july how many penelty on that case?

Late itr file penalty

 Total Replies : 7 

  param     08 June 2017

can anyone tell me, how many penalty will be if file Late nil return actuly my income is below tax slab ,its only 1 lakh but i want itr for visa purpose ,i started my business aug 2014 so i want ti file itr from aug 2014 to till now .

help experts ,urgent


  PRASHANT CHOUDHARY     08 June 2017no penalty/prosecution even if ROI filed after expiry of relevant AY if balance of tax on income assessed after deducting tds and advance tax is rs 3000 or less.


  rama krishnan     08 June 2017mr. Choudhary this condition applies only to prosecution proceedings and for penalty proceedings. correct me if iam wrong


  param     08 June 2017

thanks for rply , actuly my total income annualy is only 1 lakh RS . and you mean to say ,i wil not get any penality bcuz my income is low after all deduction ???


  param     08 June 2017

what it means now sir,,please help


  PRASHANT CHOUDHARY     08 June 2017yes, Mr rama krishnan you are right, that condition is for prosecution only. But since no tax was payable no interest/penalty will be levied 
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rama krishnan


  param     08 June 2017

Oky thankyou so much for your answer Parshant sir 


  pravin rana     08 June 2017sir.i am an accountant and if i file my return below taxable after july how many penelty on that case?



my opinion is that you are not liable to pay late fees u.s. 234F