penalty

Dear vikram,

Is i m right or wrong pls. tell if i m wrong

Mr . ashish i think it is just the matter of practice by ITO According to your Opinion what I understand and i also agree to this as i have observed this in many other cases with ITO.

sorry Mr. Narender

Vikram it is a hard conversation which is going so it's ok 

I have send u a PM also

Hi Vikram,

I have worked with CA firm for 3 year and now i am Account manager in Sandilaya Technologies private limited. in study i m doing CS final 

Regards

Ashish Sharma

Originally posted by : Narendra Gupta
	I agree with mr. Vikrant Arora that, original return can be filled till 2yrs from the date of the end of Previous year.   But mr. Vikrant Arora  i want to know why is so unfair of imposing penalty in various cities as income Tax dept. is one for all Indians

 Only the officials Dept officials can confirm u the same, not me. I wrote what I have seen in practical life.

@ Others : Please don't deviate the thread to your own conversations & other topics. FOr any off topic clarification, a new thread should be preffered & for personal conversations, preffer PMs.

In my view no penalty is leviable u/s 271F where the return is filed u/s 139(4) after the end of relevent assessment year and within one year from the end of relevent assessment year, where the income does not exceed the exempted limit.

The reason being that if we go through section 271F penalty is leviable on a person who is required to file his return of Income u/s 139(1) and who desnot file it before the end of relevant assessment year. Under section 139(1) only that person (apart from companies and Firms)is required to file his return of Income whose total income exceeds the maximum amount not chargeable to tax without giving effect to the provisions of section 10A or 10B or 10BA or Chepter VI-A .

Therefore if the total income doesnot exceed the exempted limit then return can be filed after the end of relevant asessment year without attracting penalty u/s271F.

I am amazed to see as mentioned by some Ld. member above that in Delhi the deptt doesnot accept returns filed u/s 139(4) without a deposit of penalty u/s 271F. Whether the penalty is leviable or not it has to be decided after issuing of a proper show cause notice and opportunity of being heard to the assessee. The power to levy penalty is discretionary but it has to be exercised Judicialy after following rules of natural justise and not arbitrarily. If such practice is happening anywhere it should be opposed and stopped

thank you every one my confusion is now settled out.

Thank you

Hi Dear

U have to file Belated return upto 31 st march 2011.

but your return income not exceeding the limit prescribed by income tax for filing return.

So u have to not require to file Belated return.Belated return required to file in case of if income exceeding the prescribed limit

Dear Students,

Vikrant Ji is right on provisions concerning the return filing and imposable penalty.

One think which in also important that:

Last date for the filing of the ITR for previous year ending 31.03.2009 is max. till 31.03.2011 u/s 139(4).

Ok.