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penalty for late filing of ITR
how much will be the penalty amount if an individual assessee who is required to file Itr for AY 2017-18 fails to file on or before 31st July 2017.
Replies (2)
No penalty only interest may levied U/s 234a, 234b, 234c...
Dependent on taxable liablity.
Read about U/s 234a, 234b and 234c.
Penalty for filing income tax return after due date is only applicable from fy 2017-18 that is to say when you file return for AY 2018-19. Now it is upto AO to levy penalty.
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