Form 29B Submission after filing of income tax return
This query is : Resolved
21 September 2023
Will there be any penalty if form 29B is filed after filing of Income tax return
and what should be done to resolve the situation ?
and what should be done to resolve the situation ?
22 September 2023
If a taxpayer fails to file Form 29B within the due date, they may be subject to a penalty. According to section 271B of the Income Tax Act, the penalty for late filing of Form 29B is Rs. 1,50,000 or 0.5% of the total sales, turnover or gross receipts of the business, whichever is lower.
22 September 2023
but what if 29b is filed before 30th september, but after filing of ITR
Should I revise the return after filing 29 B
Should I revise the return after filing 29 B
22 September 2023
Yes, revise the ITR after filling form.
Data might have been taken from the form for ITR.
Data might have been taken from the form for ITR.
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