penalty for late filling of ER 5 & ER 7

there two forms are not mandatory for assesee who have paid revenue below 1 cr in previous year, so dont tax your peace of mind .

But in the law, it has not been mentioned anywhere that only those paying revenue above a certail limit have to file ER-7. According to me, all assessees have to file ER-7. Pl. quote if possible the rule /notification/clarification giving exemption for filing for certail assesses  

https://www.dateyvs.com/cenex05.htm

Originally posted by : Rajesh Kumar
	penalty for late filling of ER 5 & ER 7 ??   thanks & Regards Rajesh

Sir,

we are paying duty more than one crore per annum, i want to know  penalty for late filling of ER 5 & ER 7 ?

usually no penalty if filed late, submit a request to superintendent to condone the delay, 

however maximum penalty is limited to five thousand rupees, 

15A. General penalty.- Whoever contravenes the provisions of these rules for which no penalty has been provided in the rules, he shall be liable to a penalty which may extend to five thousand rupees. 



[ Inserted vide 10/2008 - dated 01-03-2008]

Dear Sir,

         Rs.5000 /- be imposed as panalty on per year basis ? Or its only a one time panalty.

PLEASE NOTIFY.

Regards,

Hemant