Easy Office
LCI Learning

Consequences of late filing of i t return

This query is : Open 
Profile Image

Profile Image

(Querist)
05 August 2017 what are the consequences of late filing of income tax return in the following circumstances............
1. If income tax is payable
2. if refund is there
3 no tax payable or refundable.
Profile Image

K Srinivas, CMA CS

Profile Image

K Srinivas, CMA CS (Expert)
05 August 2017 1. Interest will be levied and penalty may be or may not be levied. 2. None, generally 3. None, generally
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
05 August 2017 1. Interest is calculated for the late. 2. Late filing interest calculatd then refund amount reduced. 3. No more action generally....
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CA Rashmi Gandhi

Profile Image

CA Rashmi Gandhi (Expert)
05 August 2017 Penalty upto 5000/- may be levied.
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
05 August 2017 Yes Mam.. But, It's not confirmed....
Profile Image

CA Rashmi Gandhi

Profile Image

CA Rashmi Gandhi (Expert)
05 August 2017 Generally penalty not levied but may be levied.
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
05 August 2017 Yes yes Yes.... I agreed.....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess


Answer Query



Quick Links