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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
Yes, penalty applicable after due date u/s 234F
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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