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
Menu
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...
Recent Threads
- Foreign professional income.
- RCM Paid by NBFC
- TDS not deposited by the deductor
- Electricity bill check online – need guidanc
- Assessmet Procedure us 147
- My deduction under 80 g is wrong and I should have
- GST utility 3.2.3 json not generating
- SCh FA declaration - guidance on the filling of th
- Foreign income and bank account
- Unorganised chit amount
Related Threads
CAclubindia
