LATE FILING OF RETURNS
This query is : Resolved
20 February 2011
Forgot to file return by July 31, 2010. Now trying to file online. The calculation Excel sheet calculating PENALTY and interest on PENALTY whereas there was no tax for my friend and mine is directly deducted from source and deposited with IT.
I had read that if return is filed late but within the A.Y. i.e. on or before 31032011 for financial year ended on 31032010, there is no penalty because tax is already deducted by orgn and paid to IT dept.
Need your guidance urgently.
I had read that if return is filed late but within the A.Y. i.e. on or before 31032011 for financial year ended on 31032010, there is no penalty because tax is already deducted by orgn and paid to IT dept.
Need your guidance urgently.
CMA Ramesh Krishnan
(Expert)
20 February 2011
Interest & penalty calculating for late filing.so excel sheet structured like that only
Guest
Guest
(Expert)
20 February 2011
No penalty can be levied if return is filed before 31st March,2011.
CA PARAS BAFNA
(Expert)
20 February 2011
On Late filing of Return, only interest has to be paid by the assessee.
*
Assessee need not to pay any penalty Under the Income Tax Act unless it is imposed by an order of the jurisdictional A.O.
*
In the calculation sheet whether you have taken credit for the TDS or not, please check.
*
Assessee need not to pay any penalty Under the Income Tax Act unless it is imposed by an order of the jurisdictional A.O.
*
In the calculation sheet whether you have taken credit for the TDS or not, please check.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query on effect of registration of property
- GST on reimbursement of expenses
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Visiting card purchase
- Foriegn assets disclosure
- Number of years as per AS amortisation of Goodwill
- Additional trade name
- Equity Share Sale and Purchase
- Whether output tax is taken credit by purchaser
- Wrong CMPo8 file
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
