If a person is filing late tax under 44AD should they include the tax liability and the penalty in the self-assessment or not?
Also please example how the calculation for the penalty will be carried out under 44ad
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Tax penalty
Replies (4)
Yes... You can pay Self Assessment Tax for the Tax amount with Late Fee...
If Your Gross Total Income is less than 2.5 laksh (Before all deduction under sec 80C & Cha-VIA) then late fee not applicable...
2.5 lakhs to 5.0 lakhs then Rs 1000 is late fee...
5.0 lakhs & above then 10k*** late fee applicable
These all are AY 18-19...
2.5 lakhs to 5.0 lakhs then Rs 1000 is late fee...
5.0 lakhs & above then 10k*** late fee applicable
These all are AY 18-19...
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