Annual return late filing panelty

  Mr Jayesh,

Submit it on-line if the web site accepts it. If not do it manually. If some tax is also to be paid along with the annual return pay interest @ 1.5% pm on the outstanding amount(verify the interest). On the mere submission of return belatedly let the department issue a notice on it. Then you bargain and settle it by paying a compromised amount.......MJK