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Late filing of tax returns
From 11-12 asst year there is no need to file IT return if assessees income is only from salaries if tds is deducted.
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.............
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.
Hence your Lax liability as on 31.07.2011 is Zero, Their are No Penalty & Interest. Only ITR 1 is required to file.
Agree with ruchi saini
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