Self assessment tax
This query is : Resolved
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.
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....
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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
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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.
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20 June 2013
It will be an Invalid return if you do not Pay SA while Uploading Returns.
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