I.t.r.
This query is : Resolved
26 September 2013
if a Pvt. Company fails in filing the I.T.R. upto 30th September i.e. Last date of filing the i.t.r then is there any penalty describe in detail?
26 September 2013
If a return is submitted after the due date, the following
consequences will be applicable:
1. The assessee will be liable for penal interest under section 234
A.
2. A penalty of Rs 5,000 may be imposed under section 271 F if
belated return is submitted after the end of the assessment year.
3. If the return of loss is submitted after the due date, a few losses
cannot be carried forward.
4. If the return is submitted belated, deductions allowable under
certain sections will not be available.
consequences will be applicable:
1. The assessee will be liable for penal interest under section 234
A.
2. A penalty of Rs 5,000 may be imposed under section 271 F if
belated return is submitted after the end of the assessment year.
3. If the return of loss is submitted after the due date, a few losses
cannot be carried forward.
4. If the return is submitted belated, deductions allowable under
certain sections will not be available.
26 September 2013
Agree with the Expert,
In Addition to this,
It may loose interest on refund u/s 244A as delay in filing is attributable to assessee for the period by which you have filed late return.
Due date of income tax return is related to TDS deposit and dis allowance u/s 40a(ia).
In Addition to this,
It may loose interest on refund u/s 244A as delay in filing is attributable to assessee for the period by which you have filed late return.
Due date of income tax return is related to TDS deposit and dis allowance u/s 40a(ia).
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