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01 October 2014 dear sir, if are not able to file the tax return @ own time what will happen

01 October 2014 if you are referring to AY 2014-15, then 234A/234B/234C interest may apply.

if return not filed til 31 March 2015, the penalty of Rs 5000 can also be levied.

01 October 2014 Your query is not quite clear. If you are asking about not filing return within due date then you can also file belated return u/s 139(4) at any time after due date and within 1 year from the end of relevant assessment year. If return is filed after the end of relevant assessment year and then a penalty u/s 271F may be levied by AO. Maximum penalty Rs 5000/-

06 October 2014 agreed with above views.........


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