Penalty on late filing tax
This query is : Resolved
26 July 2014
in case of individual if tax is paid before return limit but return is submitted after 31st july what would be the consequances' please reply soon
26 July 2014
No consequences. You can file belated return u/s 139(4) upto 31.03.2015 without any penalty but remember belated return filed under section 139(4) can not be revised u/s 139(5). Revised return can be filed only if the original return was filed within due date u/s 139(1).
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