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Delay of return fillining

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Querist : Anonymous

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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
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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.
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