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Interest on delay in income tax return

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Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2013 SIR

AS WE KNOW THE LAST DATE OF INCOME TAX RETURN IS 31-07-2013, FOR THE F.Y 2012-13.

BUT SUPPOSE WE FAILED TO FILE RETURN ON OR BEFORE 31-JULY-2013, WE FILLED THE INCOME TAX RETURN ON 05-08-2013, IN THAT CASE WHAT RATE OF INTEREST WILL BE APPLICABLE, UNDER WHICH SECTION AND HOW IT WILL BE CALCULATED IF FILE ON ABOVE DATE. PLEASE REPLY ME WITH AN EXAMPLE MY TAX PAYABLE IS RS 9950/-

THANKS & RGDS

MUKESH KUMAR

Ganeshbabu K

Ganeshbabu K (Expert)
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29 July 2013 interest under section 234A will come in such case if you fail to file return with in 31.07.2013

so in your case interest would be

=9950*1%1
but if you paid your tax payab;e before 31.07.2013 and only you made delay in filing of return no interest will come

so better pay now what is your tax due and let only filing will be due for 05.08.2013 if you are not able to file before 31.07.2013

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