If a person pay self assessment tax Rs. 50,000/- in month of December' 23 but he didn't file his return till December. If he files his return u/s 139(8A) in January' 2024 and his tax liability comes Rs. 70,000/-
Now my question is that whether penalty of 25% will be charge on remaining amount i.e. Rs. 20,000/- or on whole amount Rs. 70,000/-
Menu
Sec 139(8A) d return
Replies (2)
Quick Summary
Penalty is applicable on 70k.
Amit Jain Sir.
Advisable to file ITR in December first showing 50K self assessment tax. Everify it.
Then file ITR U in January
and pay differential tax of 20k with penalty on 20K only
Connect
Rgds
CA. Raj Doshi
R C D & Co.
Chartered Accountants
Kandivali West,Mumbai
Advisable to file ITR in December first showing 50K self assessment tax. Everify it.
Then file ITR U in January
and pay differential tax of 20k with penalty on 20K only
Connect
Rgds
CA. Raj Doshi
R C D & Co.
Chartered Accountants
Kandivali West,Mumbai
Recent Topics :
- Outstanding Demand in Income Tax: How To Respond?
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
Related Topics :
CAclubindia
