HELLO FRIENDS, IF I AM A SALARIED PERSON AND I GET 16 NO. FORM
FROM MY EMPLOYER FOR THE YEAR 2008 & 09
AFTER DEDUCTING THE TDS
BUT I HAVE NOT FILED THE RETURNS
IS THERE ANY INTEREST FOR THE NON FILING OF RETURN IF I FILE NOW.
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INTEREST
Replies (3)
You can file your return before the end of this march. and if TDS is deducted correctly you neednot pay any interest, if any extra amount is payable by you then small interest of 1% straghit will be charged per month for every month delayed. thats all.. so go ahead file your return fast.. and Jiyo aaram se.. ha ha
BUT FOR THE 2008 CAN THE AO IMPOSE PENALTY OF RS.5000.
No interest or penalty would be imposed if all the due taxes has been paid . As sec 234A is applicable if the return has been filed late and on the amount of tax payable. If all the due taxes had been taxes, there would be no tax payable on which interest is to be calculated. So, no interest even if the return has been filed late . Penalty cannot be also imposed
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