06 September 2009
In case of Firms which are not liable for audit u/s44AB If Return of Income is not filed within 31st July of the Assessment Year then what is the remedy?
06 September 2009
Hi, Interest @ 1% per month shall be charged on tax payable for delay in filing of return U/s 234A for number of months or part thereof from 1.08.09 to actual date of filing and the return can be filed with interest up to 31.03.2010. after that, penalty may also be levied.
06 September 2009
penalty may be levied from 01.08.09 not After 31.03.10. but there is rare case law that penalty levied in the belated return i.e. after 01.08.09 to 31.03.10. but section said that if you filed belated return then penalty may be levied and this is belated return.
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