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Consequences for delay in filing of 29b
Is there any consequences for delay in filing/non filing of form 29 within time limit?
Replies (4)
There are no penalties for non filing of Form 29B but in certain cases refund is not processed or sone procedural errors.
Thanks for your response.
What about MAT credit carried forward.
Can we take benifit of Mat credit in subsequent years.
What about MAT credit carried forward.
Can we take benifit of Mat credit in subsequent years.
Yes, we can took MAT credit in subsequent years.
If not filed, 10,000 rs is the penalty as per general practice. income tax act no where mentions such penalty
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