Hi Experts,
can a file ITR4s for Ay 15-16 and 16-17 of resident individual in the month of feb, 2016 simultaneously?.
what would be penalty amount for AY 15-16, where income is rs.1,00,000/-?
Please guide me.
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Filing income tax return
Replies (5)
u can file itr4s for a y 15 16 but u can only file for a y 16 17 after march 16 and there will be no penalty for a y 15 16 for filling retrun in feb.
If i fille for AY 14-15 then in that case there would be any penalty, with aforementioned income?
For Ay 15-16, return needs to be filled within sept 2015....
Penalty - Rs 5,000 & interest provisions will be applicable....
You can file itr for AY 2015-16 in feb 2016 without any Penalty and as your Income is ₹ 100000 for AY 2015-16 which is less than basic exemption limit (₹250000 lowest exemption limit) so there will be no interest as Interest is calculated on Tax amount but on ₹100000 there will be Nil Tax. For AY 2016-17, you can file ITR after March not before that to calculate your Income tax use following link:
https://www.dropbox.com/sh/j3frxwk127vwk44/AACfYHr4kpfJskaIvFNZDAyBa?dl=0
Its a link of Income Tax Calculator for AY 2016-17
Yes u can file
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