On belated return, penalty to be paid in Cash or adjustable against TDS ?
This query is : Resolved
Deepak Rawat
(Querist)
20 June 2022
Dear Experts,
Please guide on below mentioned issue.
I didn't file my ITR for FY 2020-21 and now I want to file the same. My income is more than 5 Lakh and as much I know Penalty of Rs. 5000/- on belated return will have to pay.
Here, my question is whether late filling penalty to be paid in cash only or the same can be adjusted against available TDS. As there is Rs. 27300/- TDS available in FY 2020-21.
Please guide
Please guide on below mentioned issue.
I didn't file my ITR for FY 2020-21 and now I want to file the same. My income is more than 5 Lakh and as much I know Penalty of Rs. 5000/- on belated return will have to pay.
Here, my question is whether late filling penalty to be paid in cash only or the same can be adjusted against available TDS. As there is Rs. 27300/- TDS available in FY 2020-21.
Please guide
CA R SEETHARAMAN
(Expert)
21 June 2022
Yes, belated return filing penalty can be adjusted against TDS.
But now belated return can't be filed for the FY 2020-21.
But now belated return can't be filed for the FY 2020-21.
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