Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Whether penalty payable

303 views

Save Share

sambhaji shatawaji

28 Points Posted on 02 November 2021

Income tax return is filed with tax payable.
and after 15 days of filling of return demand notice is come and assessee not paid the demand.
then he is liable for penalty or only for interest?

Replies (6)

Quick Summary

This discussion clarifies whether a penalty is payable when tax remains unpaid after a demand notice is issued following an income tax return filing. The consensus is that typically, only interest is leviable in such scenarios, not a penalty. This distinction is important for taxpayers to understand their financial obligations.

CA Aakarsh Jain

10436 Points Posted on 02 November 2021

Normally interest is only leviable in such cases.

If you are satisfied with my reply please like the answer so that I'll be motivated to answer more.