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interest payable for late filing of itr
plz explain the provision
Replies (7)
which AY?
17-18
no penalty. File return. After 1st April 2018 fine at the discretion of AO
AY 17-18 i.e FY 16-17 interest to be paid @ 1% for each month delay from the due date of filling the return
If you ll be file your ITR for AY 17-18 as late filing then you ll be pay interest 1% fir every delayed months....
https://cleartax.in/s/interest-imposed-by-income-tax-department-under-section-234a
Refer this website. You will be full clear on it.
1% is for interest. Penalty for late filing will be compulsary from AY 18-19
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