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Income tax return filing

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santosh shanbhag (Querist)

22 September 2014 Sir, For Assessment year 2014-15, the Govt has extended the time limit for filing audit report U/s 44 AB till 30.11.2014. If we donot file return of income as on 30.9.2014 which is suject to Audit 44 AB, what will be the penalty

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 September 2014 assuming that the due date for return is not extended, if you dont file the return by 30 sept, interest under 234A can be levied.

Nikhil Kaushik

Nikhil Kaushik (Expert)

22 September 2014 how there is an update from Gujarat High Court that CBDT be directed to extend the due date for return to 30 November subject to 234A interest. please refer https://www.taxmann.com/topstories/222330000000003810/gujarat-high-court-directs-cbdt-to-extend-due-date-for-filing-of-itr-to-30-11-2014-subject-to-sec-234a-interest.aspx

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