Interest for late filling returns

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2012 Dear Sir/Madam,

please get me the details that is their any interest charges for the filling the income tax for salaried person for the A.y.12-13.

Thanks & Regard
Prasad.

22 September 2012 Interest u/s 234A:If there is tax due after deducting advance tax ,TDS and self assessment tax than interest will be applicable @1% per month and part thereof up to the date of filing of the return besides interest applicable u/s 234B or 234C.Means this interest is applicable only if there is any tax payable in your return.

22 September 2012 Yes last date has been expired hence interest liability will arise ....

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2012 Thanks for the details.

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2012 Dear Lokesh sir,

can i known from when the interest is applicable. Is it from March 2012 or August 2012 and rate of interest will be 1% right sir.

22 September 2012 from due date till actual date of payment.....that is august 31

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2012 Thanks for details for all.


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