urgent need on section 271 f

 Question not clear............... if someone has gross total income less than specified limit i.e. minimum exemption limit...... then why would he file return............ if that is above gross total income......... then only he would be required to file return......... along with penalty amounting to Rs. 5000 u/s 271F.......... but it can't be filed after end of one year of assessment year........... in any case...........

Dear Madhukar,

Penalty u/s 271 F is not attracted in case  return is filed after the end of assessment year where "GROSS TOTAL INCOME" is less than exemption limit.

No penalty u/s 271 F if GTI is less than maximum exemption limit.

agree with all..

Whether penaly u/s 271F is leviable if for the following case:

A.Y.  2010-11

Gross Total Income                       30000

TDS                                                 3000

But assessee wants to file his return to claim TDS after end of A.Y. 10-11 say  12.10.2011