Late return filing
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2013
if a person having income from business and profession, failed to file his return upto 31st July
What is penalty or interest or both, for him, for non-filing of return on time ?
What is penalty or interest or both, for him, for non-filing of return on time ?
29 July 2013
Interest is payable on the tax amount. Penalty is generally not levied. So, file the return within a reasonable time.
.
Non filing of return in time is equivalent
to filing return not in time. Interest U/s 234A is levied @ 1% on tax payable. In case of TDS is deducted and refund is due no interest is charged.
.
.
Non filing of return in time is equivalent
to filing return not in time. Interest U/s 234A is levied @ 1% on tax payable. In case of TDS is deducted and refund is due no interest is charged.
.
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
- ITR-Capital Gain
- CLOSING STOCK QUERY
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- IT returns for fresh job holders
- F&O reporting in ITR
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Sale of Mutual Funds In Diffirent Financial Years
- CASH GIFT FROM BLOOD RELATIVE
- Itr processing refund
- U/S 194 T
- TDS refund Indemnity Bond
- ITC BENEFIT ON BROKRAGE PAID
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
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
