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return file

SRI BHAGWAN JOSHI (M.Com) (57 Points)

05 July 2018

My dad has pan no Is his income zero, should he fill the income tax return, if not filled, the fee will be charged

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3 Replies

CA Naveen Chand (Chartered Accountant) (12739 Points)
Replied 05 July 2018

FILE NIL RETURN ON OR BEFORE 31-07-2018

Anjali P Nair (ACA,ACMA) (582 Points)
Replied 05 July 2018

Whether Your father has any income which is above exemption limit ie Rs.2,50,000 /-

If yes he has to file IT return on or before 31/07/2018.

If not filed penalty under section 234 F will be levied as under

(a)		five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;
(b)		ten thousand rupees in any other case:

Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.