Itr ay 2015-16
This query is : Resolved
arvind sharma
(Querist)
18 December 2016
Hi,
what is the penalty and interest if we file ITR (Salary) for AY 2015-16.
what is the penalty and interest if we file ITR (Salary) for AY 2015-16.
KAVIRAJA ADDANGADI
(Expert)
18 December 2016
There will be no penalty, if you are not having liability than no interest will be charged. If tax liability than 234A late filing interest is additional with other interest 234B and 234C depends on tax amount.
CMA Ramesh Krishnan
(Expert)
18 December 2016
penalty will be Rs.5000 under sec.271F and interest and interest depends on your tax outstanding u/s.234A
CA R SEETHARAMAN
(Expert)
19 December 2016
Penalty is usually not levied on belated return filed on line.
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