Subject Fees for default in furnishing return of income.
Effective from 1st April 2018
When a person required to furnish a return of Income under Section 139 fails to furnish return, the penal provisions are as follows
Rs.5000 penalty if the return is furnished on or before the 31st day of December of the assessment year
Rs.10000 in any other case
Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees
Section 139 Explanation 2.—In this sub-section, "due date" means
,— (a) where the assessee 31[other than an assessee referred to in clause
(aa)] is— (i) a company 32[***]; or
(ii) a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; o
(iii) a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force, the 33[30th day of September] of the assessment year; 34[(aa) in the case of an assessee 35[who] is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year;]
(b) in the case of a person other than a company, referred to in the first proviso to this sub-section, the 31st day of October of the assessment year;
(c) in the case of any other assessee, the 31st day of July of the assessment year
Effective from 1st April 2018
When a person required to furnish a return of Income under Section 139 fails to furnish return, the penal provisions are as follows
Rs.5000 penalty if the return is furnished on or before the 31st day of December of the assessment year
Rs.10000 in any other case
Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees
Section 139 Explanation 2.—In this sub-section, "due date" means
,— (a) where the assessee 31[other than an assessee referred to in clause
(aa)] is— (i) a company 32[***]; or
(ii) a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force; o
(iii) a working partner of a firm whose accounts are required to be audited under this Act or under any other law for the time being in force, the 33[30th day of September] of the assessment year; 34[(aa) in the case of an assessee 35[who] is required to furnish a report referred to in section 92E, the 30th day of November of the assessment year;]
(b) in the case of a person other than a company, referred to in the first proviso to this sub-section, the 31st day of October of the assessment year;
(c) in the case of any other assessee, the 31st day of July of the assessment year
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