Delay in filing return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2011
Hi,
If my salary is taxable and my employer has deducted the tax payable on my salary as well in time (before the closure of the respective financial year) for Ass. year 2010-11 & 2011-12 but, i failed to file return before due date.
However, if I file my returns on 02 Aug 2011 for both years, then, will I have to pay any interest u/s 234 and penalty seperately..
If my salary is taxable and my employer has deducted the tax payable on my salary as well in time (before the closure of the respective financial year) for Ass. year 2010-11 & 2011-12 but, i failed to file return before due date.
However, if I file my returns on 02 Aug 2011 for both years, then, will I have to pay any interest u/s 234 and penalty seperately..
31 July 2011
For 2010-11, yes you have to pay the interest separately for late filing of return. You have to also pay penalty of Rs. 5000 as your return is filed after 31/03/2011.
For AY 2011-12, you are under no obligation to file your return if your salary is below 5 lakhs and the employer has dedcuted TDS on the same.
For AY 2011-12, you are under no obligation to file your return if your salary is below 5 lakhs and the employer has dedcuted TDS on the same.
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