Submission of it return of taxable income a.y.-2015-16
santosh
(Querist) 18 April 2016
This query is : Resolved
Can a Salary Person who has 8 lacs Salary Income and Tds deducted by Employer in A.Y.-2015-16. can submit Return A.Y-2015-16.will it not attract Rs. 5000/- penalty for non submission of IT Return within 31.03.2016? Because It is taxable file though TDS has been deducted but Return must be submitted witin 31.03.2016.Plese reply anyone
P. Venu
(Expert) 19 April 2016
What is the real issue?
Rajendra K Goyal
(Expert) 19 April 2016
AO (Assessing Officer) can levy a penalty of Rs 5,000 under section 271F. Even when there is no further tax payable on the income admitted, - See more at: http://taxguru.in/income-tax/how-costly-can-the-delay-in-filing-tax-returns-be.html#sthash.0okJEtmN.dpuf
or at:
http://www.charteredclub.com/late-filing-of-income-tax-return/
