penalty on balance Tax payable for AY10-11
This query is : Resolved
07 July 2011
what is the interest & penalty payable on any balance tax payable for ay10-11. The returns were filed by due date.
07 July 2011
Penalty is to the 'extent of the tax in arrears'. Ref:- section 221(1) of the Income tax Act,1961.
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