Penalties for non filing of itr

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Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 sir, I want to know the amount of penalty in case of non filing of return having income more than Rs. 5 lakh in case the amount of tds is already deducted on gross income

Sandeep Dharar

Sandeep Dharar (Expert)
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15 July 2014 The penalty is Rs. 5000/- along with interest u/s 234A, 234B and 234C.

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 thanks but can u pls tell me the rate of interest

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 July 2014 If tax liability is fully covered by TDS, no need to pay interest hence query turns redundant.

Sandeep Dharar

Sandeep Dharar (Expert)
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15 July 2014 Visit the following link for interest information:-

https://finotax.com/income-tax/intt234

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Penalties for non filing of itr

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