Tax

This query is : Resolved 

30 September 2014 whether the interest of 234A will be charged if the assesse has filled his return late n due date was 31 july if suppose e.g. total tax liability was 100000 n tds deducted was 150000 n if no then what is relevance of 31 july?

30 September 2014 In the given case interest u/s 234A will not be charged even if return is filed after 31st July of the relevant Financial Year. If the return is filed after the end of relevant assessment year penalty u/s 271F may be imposed by AO. Maximum penalty u/s 271F is Rs 5000/-.


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