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Penalty on filing of itr
all experts, i need your suggestion that which amt. to considered as our imcome nil return for penalty provision.
whether imcome after deduction and rebate or before.
example. i have income of rs. 310000 and after deduction my income is rs. 270000, so whether penalty of rs. 1000 is leviable or not.
plz experts advice me.
Replies (7)
Penalty u/s. 234F applicable, in this case ...
yes . income up to 500000 late fee 1000 and above 500000 late fee 5000
income before deduction will be taken for consideration of 234f
Sir whether benefit of rebate of rs. 2500 will get or not.
yes penalty is applicable u/s 234F
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Sir whether benefit of rebate of rs. 2500 will get or not. |  |
Yes, if it is applicable, but deduction available from tax liability, if any.
While late filing fees will be charged independently.
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