Penalty charges for late i.t. return
This query is : Resolved
22 February 2013
i want to do I.Tax return file for F.Y. 2010-11 & F.Y. 2011-12. there is no any tax liability infact i have TDS certificate on interest earned.
so what will be the penalty charges for late income tax return filing for both years..
Please give me information about it..
thank you.
so what will be the penalty charges for late income tax return filing for both years..
Please give me information about it..
thank you.
22 February 2013
Dear Kavita,
the returnfor 10-11 has become time barred and cannot be filed now..
11-12 can be filed upto 31/03/2013.
since there is no tax liability, there will be no interest or penalty
the returnfor 10-11 has become time barred and cannot be filed now..
11-12 can be filed upto 31/03/2013.
since there is no tax liability, there will be no interest or penalty
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CA. Jatin Gupta
(Expert)
22 February 2013
the return for F.Y 10-11 can be filed till 31-3-13 i.e one year from end of the relevant assessment year. In this case A.Y being 11-12 so 31-03-13. and for F.Y 11-12 till 31-03-14. There shall be no penalty in your case.
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22 February 2013
Dear Kavita Agree with Jatin
There is No Penalty for filing return for the F.Y_2010-11 & F.Y_2011-12.
Only Interest U/s 234A is to be paid for 18 Months & 6 Months respectively.
There is No Penalty for filing return for the F.Y_2010-11 & F.Y_2011-12.
Only Interest U/s 234A is to be paid for 18 Months & 6 Months respectively.
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Nikhil Kaushik
(Expert)
22 February 2013
Dear Rajesh,
What I understand from Kavita's query is that she doesn't have any oustanding liability.
Therefore, even 234A shall be NIL.
What I understand from Kavita's query is that she doesn't have any oustanding liability.
Therefore, even 234A shall be NIL.
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CA. Jatin Gupta
(Expert)
22 February 2013
agree with you nikhil
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