ITR

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If i filing my return late.. Than how much penalty interedst should i pay... Please tell me about interest % with section..
Replies (8)

Which Assessment year? Generally penalty not be paid unless ordered by AO. For Interest u/s. 234A, 234B, or 234C  applicability refer article:  /articles/interest-u-s-234a-234b-and-234c-15276.asp

You are not required to pay any interest unless assesing officer ask you to do so.And max penalty he can levy is Rs.5000.But generally it is not levied.

I request you to kindly file a belated return u/s 139(4) and dont worry about it.

plz mention which assessment year you are asking for 

 

AY 2014-15 and 2015-16
And i have one more doubt... If a person not liable to pay tax in AY 2015-16... But he is filing nill return.. Than what he should pay penalty or not...?

Belated return filing for AY 2014-15 not possible now, but if any refund due, can apply manually with condonation letter.

For AY 2015-16, file belated return before March 31, 2017. When nill tax return, no interest payable and even no penalty be charged.

Ok.. Thank you sir..

For A.Y. 14-15 i suggest not to file ITR with Condonation Letter 

Bcoz A.O. can ignite Secruitny Order

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