Urgent - income tax return for f.y 2015-16

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2017 Hello Sir
My query is I have not filled my ITR of F.Y.2015-16 till now. I have salary income of more than 8 Lakh. Tds was deducted by company so there is no tax payable. Can i file itr of F.Y. 2015-16 now online. whether i required to pay any interest of late filling of itr?

CA Subin Babu

CA Subin Babu (Expert)
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06 July 2017 Yes you can file your return online before March 2018.You are not required to pay any interest if tax payable after deducting tds is nil.

Querist : Anonymous

Querist : Anonymous (Querist)

06 July 2017 Thanks for your reply
One more query just for information if there is still tax payable after deducting tds. then whether i required to pay interest for late filling? under which section and how much?

CA Subin Babu

CA Subin Babu (Expert)
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06 July 2017 Yes,then you are required to pay interest u/234A which is 1% per month (simple interest) on the tax amount outstanding. This interest will be calculated from the due date applicable to you for filing of return till the date that you actually file your return.
Further if outstanding tax amount exceeds Rs.10000, then you are also required to pay interest under section 234B and 234C for delay in payment of advance tax.

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