Interest for delay in filing

M.Sriram Shenoy (CA Final) (814 Points)

04 March 2008  

Mr.A is an employee in XYZ partnership firm.His salary exceeds the basic exemption limit, but has no investments to claim deductions.While auditing the accounts of the firm(liable to tax audit u/s.44AB) for the Asst. Year 2007-08, it was found that the partnership firm had failed to deduct TDS on Mr.A's salary for the relevant Asst. Year. Upon advice, the said firm immediately deducted TDS and remitted it on 31.10.2007.Mr.A, whose tax payable exceeds Rs.5,000.00, has not yet filed his return for the Asst. Year 2007-08.Now my question is ;

Will interest u/s.234A,B and C be attracted if Mr.A files his return for the Asst.Year 2007-08 now.He has no other income except salary. People give out ambigous replies.Kindly assist.