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Returns

This query is : Resolved 
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(Querist)
04 October 2011 DEAR SIR,

IF INCOME TAX RETURNS SUBMIT THE AFTER DUE DATE HOW MUCH PENALTY WILL DEPARTMENT IMPOSE.
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Prakash Tolani

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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
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