Penalty for late filing of half yearly return

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 August 2011 From 01/04/2011 the maximum limit of penalty for late filing of Half Yearly Return is increased from Rs.2000/- to Rs.20000/-.

If FY 2009-10 First Half Return is being filed on 25/08/2011 then how much penalty shall be levied ? Rs.2000/- or Rs.20000/- ?

25 August 2011 Rs. 20000 will be the maximum penalty

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Querist : Anonymous

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26 August 2011 If Return is for FY 2009-10 why maximum penalty is not Rs.2000 ?

26 August 2011 because 20000 limit is applicable for returns filed on or after 01/04/2011, pertaining to whichever year

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Querist : Anonymous

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26 August 2011 old law will not applicable to old returns ?

26 August 2011 No


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