Income tax return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 August 2011 Dear Sir,
My father salary income for A.y. 2011-12 is 2,65,000 tds deducted by employer is correctly, and total saving u/s 80c is1,00,000 so total income and total tax is correct. He is government employee, last year my father submit return on time. So i want to know about, if my father file return after 31st July 2011 any penalty occour or not. In previous year return the interest income is 2500 and current year is 3000. last year they shown there interest income in ITR if they sown interest income tax will be increase. please suggest me

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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17 August 2011 If the employer has deducted TDS correctly then there is no need for your father to file the return.

But if you still want to file the same, you can do so and as there is no tax payable therefor there will be no penalty.

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2011 But interest income is 3000 if he show interest income further 30 rupees tax liability increase. His last year total income income including bank interest

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2011 But interest income is 3000 if he show interest income further 30 rupees tax liability increase. His last year total income income including bank interest

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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20 August 2011 You said that the tax was deducted correctly. So it was assumed that your employer deducted tax for the savings account interest also. If he has not done the same then you have to furnish the return.

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