Late filing of tax returns
Page no : 2
AZIZ SHAMSUDHIN
(propreitor)
(32 Points)
Replied 09 August 2011
Ruchi Saini
(Fresher)
(43 Points)
Replied 09 August 2011
yah...its to true that there is no need to file ITR if Income is only from salary ...but other conditions also there like(1) Only Salary Rec. from One Employer (2)" Income from Other Source" by way of Interest from Savings A/c in a bank ,not exceed 10 thousand Rs. (3)has no claim of Refund of Taxes due to him For the Income of the Assessment Year......
For any other views.... I M Waiting.............
CA. Vikas Sharma
(Chartered Acountant)
(93 Points)
Replied 09 August 2011
there is no attraction of panelty, however, you will have to pay interest U/s 234A/B/C just becuause of late filing of return.
TRILOCHAN
(SENIOR ACCOUNTANT)
(698 Points)
Replied 09 August 2011
Hence your Lax liability as on 31.07.2011 is Zero, Their are No Penalty & Interest. Only ITR 1 is required to file.
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