IT Returns filing

Hi,

If appropriate tax has already been paid or deducted at source, you have time till 31st March 2009 to file your IT return without any interest or penalty. If there is a tax payment due, then interest need to paid U/s 234 A along with other interest U/s 234 B and 234 C @ 12 % P A. Penalty will come into picture only after 31st March 2009. My discussion is restricted to filing IT return for FY 2007-2008 and for a person who need not get his books of accounts audited by a Chartered Accountant.

yes