Penalty for non filing return
by ultra on Dec 10, 2011 04:05 PM Permalink | Hide replies

As one by six scheme deleted w.e.f. 1.6.2006, is there any penalty for not filing return, if there is no taxable income in the year.

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Re: Penalty for non filing return
by santosh on May 30, 2012 01:54 PM Permalink
If the income is above Maximum Exemption Limit then only penalty is chargeable @ 1%per month from the due date of filing of income tax returns.

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