11-03-2011, 08:17 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by student_of_law</i>
If you were bound to file return in the previous years under s.114 of ITO, 2001 but you failed to do so, then you will be liable to penalty under section 182.
However, if you were not liable to file return, but wants to file it voluntarily, there is no penalty for that.
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So there is a penalty even if there is no TAX PAYABLE
What is the quantum of penalty
If you were bound to file return in the previous years under s.114 of ITO, 2001 but you failed to do so, then you will be liable to penalty under section 182.
However, if you were not liable to file return, but wants to file it voluntarily, there is no penalty for that.
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So there is a penalty even if there is no TAX PAYABLE
What is the quantum of penalty
