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/-
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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
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