Query regarding penalty

HELLO.......

I had filled a return  for A/Y 11-12 on 28/3/2012. and sent ITR V within 120days Bt due to some problem CPC received after 120days and they asked us to file manual return. Can anyone tell me penalty for late filling will be levied for taxable return or not?

 

Replies (4)
Technically, penalty can be levied of flat Rs.5000 in case return is not filed by the end of relevant A.Y.u/s 271F. However, no penalty can be levied if assessee has genuine reason for delay(273 B) So, in ur case, file d return alongwith written request. Moreover, I hv not seen practically much cases where dept levy penalty u/s 271F. They hv liberal stance in this respect

Dear Priyanka,

 

Since you have filed the ITR online, you would be having the a copy of the ITR V, confirming the date of filing the return. thus, it was not your fault if the ITR V did not reach the CPC on time. hence, if you refile the manual return, in my opinion, the penalty may not be payable by you.

 

CA Ankit

as you filed your return online, hence the date of filling the return is the date when the return filed on line. there will be no penalty

same case has happened with one of my friend. He sent back the same acknowledgement again and the department accepted the original return. So, you can try the same and see the result. If you have sent the acknowledgement earlier through Speed post then send the xerox of speed post receipt also. 

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