Income tax late fee

It is calculated as tax liability in ITR, and balance after the late fees is only refundable. Any shortfall can be paid as self assessment tax.

PLEASE REPLY THIS ONE SIR....

SORRY FOR THE CROSSING....

A Assessee file his ITR-1 on 26/07/2018. He is not verify the ITR till date 23/11/2018. But, The 120 Days over on Today... The Assessee is not available now & can't contact.... In this situation - What can I do...? - Can I revise the ITR today for extending time period...? - Any other Solutions Please...

Read more at: https://www.caclubindia.com/forum/urgent-query-please-reply-493211.asp

Well. even if you revise, verification of original & revised return will be asked by CPC. So, most important is contacting assessee. If he is not interested to contact you, why for you are worried?

Thank You for the reply Sir...

He is employment in Forest area. So, I can't contact to him. Also he will meet me when he is near by our area...

Originally posted by : Dhirajlal Rambhia
	Well. even if you revise, verification of original & revised return will be asked by CPC. So, most important is contacting assessee. If he is not interested to contact you, why for you are worried?

Sir.,

In case revised return then the 1st one will lapsed and revised return is in current activity. I think the way that why I asked

Am I right or wrong...?

Yes, you are correct. 

Sir,...... If you have time please reply,......  In ITR - 3 (Individual) ,... in Profit and loss section,.... in 1C (Duties, taxes and cess, received or receivable, in respect of goods and services sold or supplied) and 7 (Duties and taxes, paid or payable, in respect of goods and services purchased) when the GST details are filled the net profit shown is lesser than the actual,.....that is GST ITC is deducted from the net profit,...... leaving both the section blank gives correct net profit,....... my questions are  1) leaving 1C and 7 of profit and loss section blank is correct or not,....... 2) If it should be mentioned, then is there any column for showing GST ITC in profit and loss section,....... 3)I have mentioned GST ITC in Balance sheet section (application of fund) 3 b iii (Balance with Revenue Authorities),..... is it correct?

Read more at: https://www.caclubindia.com/forum/gst-details-in-itr-profit-and-loss-section--495450.asp

@ Kumar ....

If you have maintained your books properly, there would not be any such difference.

Here it is ditto data trasfer from books.

But there could be some difference as you encountered when an assessee maintains books on cash basis and not mercantile/accrual basis.

Well, if your net profit figure in ITR is same as per books, no more issue in such mismatch.....

So, need not worry.....