PENALTY FOR LATE FILING OF RETURN IS APPLICATION IN CASE OF RETURN IS NOT FILED ON DUE DATE OR NOT FILED BEFORE 31ST MARCH.
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PENALTY UNDER SECTION 271F!!!!!!
Replies (5)
If ROI is file after the end of Assessment Year i.e. 31st March, then penalty of Rs.5000 under section 271F is leived
Rajeev is right.
but the penalty is levied at the discretion of the AO
| Originally posted by :CA SUDHIR HALAKHANDI | ||
| " | PENALTY FOR LATE FILING OF RETURN IS APPLICATION IN CASE OF RETURN IS NOT FILED ON DUE DATE OR NOT FILED BEFORE 31ST MARCH. | " |
if assesee has GTI more than basic exemption limit before giving credit of Chaoter vi then he will be penalised for 5000 if he does not file return within 31st march
Md.Mosharraf Ali Raza is right
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