Self assessment tax
This query is : Resolved
vilas yeole
(Querist)
20 June 2013
is it possible to file income tax return without paying sa tax ie want to know how much late one can pay sa tax from the date of filing return.
CA Parul Saxena
(Expert)
20 June 2013
No at the time of filing of return tax liability must be Nil...so there is mandatory provision to pay income tax before filing of Income tax return....
Message likes :
1 times
Ganeshbabu K
(Expert)
20 June 2013
1)Income tax return to be invalid if self assessment tax not paid-finance bill 2013
Thanks & regards
Ganesh babu k
Thanks & regards
Ganesh babu k
Message likes :
1 times
20 June 2013
Not invalid. Will be treated as 'defective' vide explanation (aa) to section 139(9) from assessment year 2013-14 and onwards.
Non payment of self assessment tax attracts interest @ 1% per month or part of a month, because the person become an 'assessee in default' as per section 140A(3)and consequently section 220(2) attracts.
Non payment of self assessment tax attracts interest @ 1% per month or part of a month, because the person become an 'assessee in default' as per section 140A(3)and consequently section 220(2) attracts.
Message likes :
3 times
20 June 2013
It will be an Invalid return if you do not Pay SA while Uploading Returns.
Message likes :
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