INCOME TAX SECTION 271F - Penalty for failure to furnish return of income


Description

If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees:

[Provided that nothing contained in this section shall apply to and in relation to the return of income required to be furnished for any assessment year commencing on or after the 1st day of April, 2018.]


Click here to read more from the Income Tax Act


Find the best lawyer for Income Tax Section 271F charges

Related Questions

How can I quash the FIR by compromise with the complainant?

I have come to terms with the person who had filed a criminal complaint against me and now they are willing to compromise with me. How can the FIR aga…

Read More

How can I get bail in a non bailable offence?

I have been framed in a case by some people and the Police is saying that the charges against me are non bailable in nature. How can I get bail in a n…

Read More

In how much time is a bail / anticipatory bail granted?

If we apply for an anticipatory bail or a regular bail, in how much time can this be granted?…

Read More

When and where can I apply for anticipatory bail?

When and where can I apply for an anticipatory bail in case someone has filed criminal complaint against me and Police may have registered an FIR?…

Read More

Talk to a lawyer for your legal issue