Income tax return

yes the assses can file belated return

agreee with above

Hello sir/madam,

Please anyone can tell me how I can do the GDC & A (Government Deploma in Co-operation & Accountancy)Pannel registration.

Please share your's comments asap.

Thx. in Advance,

Regards,

Manish Lingayat

9220842572.

Dear Nikil

Yes . you can file belated return with 1 % p.m Interest u/s 234A  up to 31.03.2012. if any have tax laibility made. other than no paid interest if no have tax laibility.

Thanks

Ramanuj

yes, assessee can file a belated return u/s 139(4) of the act. also he would be liable for the interest u/s 234A of the act. the calculation will be as follow:-

1% per month or part of the month from 31st march 2011 to till date and for this purpose interset is calculated on amoount of tax payable by the assessee

Note:- If there is no tax payable interest will be Nil. Also such belated return cannot be revised.

Regards,

CA Madhur

Mr Nikhil , you can file belated return u/s 139(4). 

After Filing the return you cannot revise the return u/s 139(5).

Suppose your tax liability is below Rs. 10,000 then Interest u/s 234B and 234C will not be applicable.

whereas interest u/s 234A will apply @ 1% on the amount payable from due date of iling of return if 31-07-2011 then from August 2011 till you file your return , if Jan 2012 then Aug to Jan 2012 6 Months.

And if Sept 2011 is due date then 4 Months.

Suppose your tax liability is above Rs. 10,000 then Interest u/s 234B and 234C will also be applicable.

Interest u/s 234A as above.

Interest u/s 234B @ 1% from April 2011 to Jan 2012 (if return filed in Jan 2012)

Interest u/s 234C would be as under:

Rate          Due on     Interest on Tax

30              15 Sept     Tax @ 30% @ 3%

60               15 Dec     Tax @ 60% @ 3%

100            15 Mar     Tax @ 100% @ 1%

Rate          Due on     Interest on Tax 

15              15 June     Tax @ 15% @ 3%

45             15 Sept     Tax @ 45% @ 3%

75               15 Dec     Tax @ 75% @ 3%

100            15 Mar     Tax @ 100% @ 1%

Hello Jignesh sir,

Please can you tell me how I can do the GDC & A (Government Deploma in Co-operation & Accountancy)Pannel registration.

Please share your's comments asap.

Thx. in Advance,

Regards,

Manish Lingayat

9220842572.

THANKS Mr Mehta for good information about u/s 234A, B & C .