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Penalty for filing return a basic exemption limit applicable individual

harsha (student) (28 Points)

05 October 2018

can u help somebody

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CA Rakesh Joshi (Chartered Accountant ) (1272 Points)
Replied 05 October 2018

Rs 1000 if he Total Income is below 5 Lakhs

Rs 5000 or 10000 as the case may be if the Total Income is 5 Lakh or above depending upon the month of filing ie Rs 10000 after Dec 2018

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RAJA P M ("Do the Right Thing...!!!") (128106 Points)
Replied 05 October 2018

@ Harsha.,

Your query is not cleared...

But,
My reply based on sec 234F as;

If Asseessee's Gross Total Income less than BEL* then no need to file his ITR as per sec 139(1)...
Thus, As per sec 139(1) every Assessee must file his ITR if income based on said section. Assessee's Gross Total income exceeds BEL then He ll file on or before due date**

If not filed then sec 234F levied.

* BEL means Gross Total Income (Before all deductions and Expenditures).

** Due dates will be applicable as per extended notifications

aradhana upadhyay (151 Points)
Replied 05 October 2018

If the gross total income, means income before providing any deduction, is below the basic exemption limit, you are not required to file Income tax return. And as per Sec 234F, the penalty is for the person who is required to file the returns as per section 139. So since people having income below BEL are not required to file returns, they can escape this penalty provision. But not sure whether it can be taken to this literal level.