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Hello sir

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Guest (Querist)
18 June 2012 good evening sir,
supoose a salaried class person. whose tax liablity is 4500 for the f.y 2011-2012. than return date is 31 july 2012. but supoose he will fill their return before 31 march 2013. than he will paid intrest @1%. but if he fill their return after 31.march 2013. than he will paid both interest and panelty 5000.sir i am right or wrong please reply
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CA PARAS BAFNA

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18 June 2012 You may not have to pay penalty, pay only taxes.
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Penalty is under the discretionary powersof an AO. Let him exercise his powers then only pay it.
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