if any body have income from salary is taxable in financial year 2008-09 is taxable
but he has not filled return for the financial year 2008-09.
but the company has deducted full tds on salary provided by company,
after tds deduct there is no in come tax payable? can he fill itr now after 31 march 2010.
is there any penalty or interest ?
Hi,
Return filed after completion of assessment year, penalty may be imposed for Rs.5000/- hence in your case, if return for the f.y. 08-09 is not filed on or before 31.03.10, penalty may be imposed. Further if there is no tax payble, interest will not be charged as the interest is calculated on the tax payable.
but sir company has deducted tds & there is no tax payable, in this case penalty will be charged or not
hi,
yes, penalty will still be charged
CAclubindia
