Regarding late filing of i.t.return

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 August 2011 I hv not file my I.T. Return for the A.Y. 2011-12 and want to file in August end then wt is the liability U/s 234-A . I hv paid my full advance tax .

02 August 2011 Interest is leviable @ 1% p.m. but it is on
amount payable. You will not require to pay any interest as no amount is payable.

Now for delaying , you are loosing interest which is receivable to you from the department.



02 August 2011 Interest leviable from August @ 1% p. m. only on the amount payable after advance tax and TDS.


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