Interest charged u/s 234A
This query is : Resolved
12 October 2010
Dear Sir,
I am filling return of income for the previous year 2008-09.Kindly let me know that in what rate of interest u/s 234A will be charged.
Secondly, Is there is any penalty for non filling of the return of income?
Thanks
I am filling return of income for the previous year 2008-09.Kindly let me know that in what rate of interest u/s 234A will be charged.
Secondly, Is there is any penalty for non filling of the return of income?
Thanks
12 October 2010
1.Interest under section 234 A is leviable from the next day of due date to the date of filing the return. The rate of interest is 1% per month or part of a month's comprised in the period of delay.
2.Since the assessment year relevant to the previous year 2008-09 ends on 31/3/2010 and the return is again belated from that date, 271F penalty can be levied.
2.Since the assessment year relevant to the previous year 2008-09 ends on 31/3/2010 and the return is again belated from that date, 271F penalty can be levied.
29 October 2010
You cannot file ITR for AY 2008-09 as last date of filing even belated return is March 31ST 2010
29 October 2010
Chikkerur Ji, question is related to previous year, and not assessment year,2008-09. Pl reconsider your answer.
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