What if I file return after July 31?

What is I am having a refund and I file it after due date

The answer is very simple. If you have any tax to pay interest for delayed filing u/s. 234A @ 1 % per month or part thereof will apply with effect from 01/08/2009. If interst is already payable u/s. 234B that will also increase by 1% p.m. You cannot file a revised return later and you cannot carry forward loss to next year. If return is not filed by 31/3/2010 you will be visited with a penalty of Rs. 5,000/-.

CA. Rabindran

no warry yar if you have not tax liability & refundable situation you can filing of due date

the importance for this deadline is manily for loss rertuns...

you cannot carry forward loss if you do not submit return on time...

that is the only big loss...

n as you know, last year was hit by recession and hence many ppl made losses in shares...

so these ppl should file return on tym...

NO issuesssssssssss