Interest & late fee

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G Nagendra Rao (Querist)
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18 April 2018 is it not injustice to claim both interest on late payment of tax and late fee for filing returns?
because both tax payment & return filing are inter connected. without making tax payment we are not allowed filing the return. Most of the trade are ready to file return in time but make delayed payment due to paucity of funds.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 April 2018 you are right as well as wrong. The interest and late fees is not charged arbitrarily. Everyone who starts a business should know the legal framework that she/he needs to operate within. Unless there is a serious enough a penalty, people won't follow the rules.

G Nagendra Rao

G Nagendra Rao (Querist)
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18 April 2018 OFCOURSE, INTEREST & PENALTY ON LATE PAYMENT SHALL BE MORE PINCHING INSTEAD OF INTER-LINKING TAX PAYMENT AND RETURN FILING

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