is it penalty for late filing of return by e-filing ? because i have filed the return yesterday night but the site is not responding hence my return is submitted late by 1st April,2008?
is it penalty for late filing of return by e-filing ? because i have filed the return yesterday night but the site is not responding hence my return is submitted late by 1st April,2008?
YES
If total income is above Rs. 1.00 Lacs and tax is payable/paid/tds dedcuted than the Rs. 5000/- penality appliacable. moreover in the case of Corporate assessee and firms penality is applicable
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