01 July 2016
hello,
my friend is working in MNC, he switched his job during the last 6 months of financial year 2014-15..so the later company has paid salary of Rs.4 lacs for last 6 month approx and has not deducted tds ...and he also did not his income tax return of PY 2014-15...
if he file return now...and any penalty will be arise...???
and also interest of which period should be charge..??
please suggest....
01 July 2016
For Ay 2015-16 still time is there to file till 31st March but due date filing is lapsed. Salary income for 2014-15 both employment to be calculated, if tax liability arise than same has to be paid. Interest liability u/s 234A, 234B and 234C will be there if tax liability may arise.
CAclubindia
