The faceless Penalty Scheme was launched on 12.01.2021, when the former portal of the Income Tax Department was functional. As a result, a new portal has been launched, which is 2. In short, the facts in the case of Arjun Dada Kharate are that he, along with other related persons, sold some land/properties to Gat No. 150 and 151, Makhmalabad, Nashik to Nashik`s Suyojit Group with his share in the transaction at Rs.96.66,666/-. The appraiser filed his tax return on 19.12.2013 and reported the total income at Rs.43,93,199/-. As the declaration exceeded the period specified in subsection 139(1) of the Act, a notice u/s.148 was sent to the assessor. The valuation order was adopted u/s.143(3) r.w.s.147, which estimates the total income at Rs.42,24,116/-. The evaluating officer (AO) imposed a penalty of Rs.5,000/- u/s.271E of the Act for failing the assessor to have submitted his income tax return within the time limit prescribed by you/s.139(1) of the Act. The evaluator submitted some written submissions to the LOD. CIT(A), which called for the sentence to be abolished, which did not resonate with the first instance authority that upheld the sentence.

The following reservation is inserted in article 271F of the 2017 Finance Act, w.e.f. 1-4-2018: Income tax – Although it is important to file your tax return on the due date, this does not mean that if you have missed the deadline for any reason, you will not be able to file your tax returns. But the clock turns on, which means that since you missed the deadline, you can still receive a notification from the income tax department. Note: – The e-filing portal website address has changed from to Income Tax Officer, Income Tax – As we all know, the Finance Act of 2018 made a huge change to section 271F. Under the amendment, if a person who is required under section 139 of the Income Act, 1961 to submit an income statement does not file that return before the end of the taxation year in question, […]. Notice of justification for penalty under Section 271F of the Income Tax Act, 1961 dated 17.07.2021 Income Tax – The Finance Bill 2017 proposes to charge a fee of Rs 5,000 if the tax return is filed after the due date, but no later than December 31 of the relevant valuation year and Rs 10,000 in other cases. However, it is also proposed to limit the fee to 1,000 rupees, with the total income not exceeding five lakh rupees.

4. Please submit your response together with any supporting documents electronically in the “electronic procedure” function via your account on the e-filing website ( before midnight (23:59) on 26.07.2021. 271F If a person who is required to submit a tax return under Article 139(1) or under the conditions of that subsection does not submit that declaration before the end of the marketing year concerned, the appraiser may instruct the officials to pay a fine of five thousand rupees. 3. You must provide a reason why the penalty order under section 271F of the Income Tax Act, 1961 should not be issued as initiated by the above penalty notice. Income tax – penalty for non-filing of the income tax return under the Income Tax Act, 1961. We can say that the late filing penalty was increased effective April 1, 2018 in accordance with section 234F of the Income Tax Act, 1961 (“Information Technology Act”). In the event that a person does not earn income […]. Income tax – Many people have asked a question about what will happen if we don`t file the tax return by March 31. Here, we are only discussing the negative consequences of not filing the tax return. Section 271E – Penalty for Non-Filing of Income Tax Return – Income Tax Act, 1961 Provided that nothing in this section applies to the income tax return to be submitted for an assessment year beginning on or after April 1, 2018. Shankar Lal Kumawat v.

ITO (ITAT Jaipur) – Shankar Lal Kumawat v. ITO (ITAT Jaipur) Section 271F Penalty for non-filing of the income tax return if the total income before the exemption from section 54 exceeds the maximum amount not attributable to income tax Article 139(1)(b) provides that any person who is a person other than a corporation or corporation: if their total income o. . . .