1) Loss, other than from house property, cannot be carried forward.
2) Levy of Interest under Section 234A.
3) Penalty of Rs 5,000 under section 271F can be levied.
4) Exemptions/deductions under sections 10A, 10B, 80-IA, 80-IAB, 80-IB, 80-IC, 80-ID and 80-IE are not availabe.
5) Belated return cannot be revised under section 139(5).