banner_ad

Section 271B penalty application

Others 309 views 2 replies
Sir. My business trading turnover for the financial year 2017-2018 was less than of Rs. 2 crores but more than of 1 crore. I got the books of accounts audited in the month of March 2019 and accordingly filed the Income Tax Returns on 30-03-2019. whether it would attract section 271B penalty? . kindly advice.
Replies (2)
If penalty is imposed on u by assessing officer then u will have to pay, its not mandatory.. if your reply is satisfactory no penalty will be imposed
* The penalty u/s 271B is neither mandatory nor automatic.
* If there is any reasonable cause for the failure and such person is able to prove such reasonable cause, penalty can not be imposed.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details