Interest & late fee
This query is : Resolved
G Nagendra Rao
(Querist)
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.
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
(Expert)
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
(Querist)
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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