What is the penalty for not filing ITR if an individual does not file ITR if his/her taxable income if more than Rd. 2.5 lakhs in the financial year? Please reply in details.
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Privide details for not filing ITR
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Welcome to join Forum on 29th Feb
What is reason for delay ?
For AY 2019-2020 , you can File it before 31st March with late fee under 234F of 1000 or 10000 depending upon total income
What is reason for delay ?
For AY 2019-2020 , you can File it before 31st March with late fee under 234F of 1000 or 10000 depending upon total income
As on now there's no specific section to levy penalty for not filing ITR but if case opened for assessment under section 148, then you may have to pay late fees of rs. 1000 or 10000 as the case may be, in addition to penalty under section 270A, subject to conditions
You can't call it as penalty.Its late fee.
Below 5lacs income -Late fee will be Rs.1000/-
Above 5lacs -10000/- for AY-2019-20 since December deadline got over
Below 5lacs income -Late fee will be Rs.1000/-
Above 5lacs -10000/- for AY-2019-20 since December deadline got over
What does ----Under-reported income is in consequence of any misreporting thereof --- means when the section 270A is explained?
Can you please cite some examples to explain what Under-reported income is in consequence of any misreporting thereof it means?
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If dept finds under reporting in the ITR filed.
But it's not applicable to you since you have not filed ITR
But it's not applicable to you since you have not filed ITR
This seems to be a hypothetical academic type query.
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