INTEREST OF NON FILING OF RETURN
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2011
IF ANY ONE TELL ME MY CLIENT DEPOSITE THE SELF ASSESSMENT TAX BUT HE FAILED FILED THE INCOME TAX RETURN. WHETHER HE IS LIABLE TO PAY INTEREST(U/S 234A) OR NOT (WHICH SECTION)?
20 June 2011
If your client has paid the entire amount of tax within the due date, then he will not be liable to pay interest u/s 234A. however, he will be liable to pay penalty of Rs.5000 u/s 271F if he fails to furnish return of income u/s 139 before the end of relevant assessment year.
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