Delay of return fillining
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2012
Dear Sir,
Can you provide me information for late filling of income tax return of indivedual is attracted intrest U/s 234A,B,C If tax alredy paid but return was not filling on time. i.g.
for A.Y 2010-11 & 2011-12 I want to file income tax return on 31st March 2012. please give me information for above, what type of fine and panelty will be attracted.
Regards,
RAVI KUMAR
Can you provide me information for late filling of income tax return of indivedual is attracted intrest U/s 234A,B,C If tax alredy paid but return was not filling on time. i.g.
for A.Y 2010-11 & 2011-12 I want to file income tax return on 31st March 2012. please give me information for above, what type of fine and panelty will be attracted.
Regards,
RAVI KUMAR
14 March 2012
1. Interest u/s 234A will not be levied if the tax has been paid BEFORE the due date of filing the return.
Interest u/s 234B & 234C depends on payment of advance tax. If you have paid advance tax timely interest shall NOT be levied.
2. Filing return:
(a) return of AY 10-11 can be filed upto 31-3-2012, but a penalty of Rs. 5,000/- may be levied.
(b) return of AY 11-12 if filed ON OR BEFORE 31-3-12 shall NOT attract any penalty.
Interest u/s 234B & 234C depends on payment of advance tax. If you have paid advance tax timely interest shall NOT be levied.
2. Filing return:
(a) return of AY 10-11 can be filed upto 31-3-2012, but a penalty of Rs. 5,000/- may be levied.
(b) return of AY 11-12 if filed ON OR BEFORE 31-3-12 shall NOT attract any penalty.
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