Returns
This query is : Resolved
pvsrikanth
(Querist)
04 October 2011
DEAR SIR,
IF INCOME TAX RETURNS SUBMIT THE AFTER DUE DATE HOW MUCH PENALTY WILL DEPARTMENT IMPOSE.
IF INCOME TAX RETURNS SUBMIT THE AFTER DUE DATE HOW MUCH PENALTY WILL DEPARTMENT IMPOSE.
Prakash Tolani
(Expert)
04 October 2011
If it is a case of tax audit u/s 44AB then it is Rs. 1 Lac or 0.5% turnover whichever is lower.
otherwise panel interest @ 1% per month or part of the month has to pay
otherwise panel interest @ 1% per month or part of the month has to pay
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