31 October 2015
Dear Sir, An assesse has filed his return on 27.08.2015 for F.Y. 2014-15 which is before due date by paying all the taxes but after that on 14.09.2015 he has by mistake deposited self assessment tax for F.Y. 2014-15. Now my question is can I file a revise return and claim that money as refund as the return is filed before due date but another thing is that as the tax is paid on 14.09.2015 which is after the due date of filing the return i.e. 07.09.2015. So can it be acceptable by the It Department.
01 November 2015
Dear Sir, Please tell one thing as the tax is paid on 14.09.2015 which is after the due date of filing the return i.e. 07.09.2015. So can it be acceptable by I.T. Deptt.
02 August 2024
If tax is paid after the due date of filing the return, as in your case where the tax was paid on 14.09.2015, there are a few key points to consider:
### Acceptance by the Income Tax Department
1. **Acceptance of Tax Payment:** - The Income Tax Department will accept the tax payment made after the due date. However, the delay in payment may attract interest and penalties.
2. **Interest on Delay:** - **Interest Under Section 234A:** If the return is filed after the due date, interest under Section 234A is charged for the period of delay. - **Interest Under Section 234B:** If the advance tax is not paid or is less than the required amount, interest under Section 234B is also applicable. - **Interest Under Section 234C:** If there is a shortfall in advance tax payments in the relevant quarters, interest under Section 234C may be applicable.
3. **Filing the Return:** - Even if the tax is paid after the due date, the return must still be filed. The return should include details of the tax paid, including any interest or penalties.
### Penalty for Late Filing
- **Penalty Under Section 234F:** A penalty for late filing of returns (up to ₹5,000) is applicable if the return is not filed by the due date. This penalty is in addition to any interest charges.
### Steps to Take
1. **File the Return:** - File the Income Tax Return as soon as possible, even if it is late. Include the details of the tax paid and any interest or penalties in the return.
2. **Pay Interest and Penalties:** - Calculate and pay the applicable interest and penalties for late payment and late filing. This will help in avoiding further complications or notices from the Income Tax Department.
3. **Record Keeping:** - Keep proper records of all payments and communications with the tax authorities for future reference.
### Summary
While the Income Tax Department will accept the tax payment made after the due date, the taxpayer is liable to pay interest and possible penalties for late payment and late filing. It is important to file the return promptly and include details of all payments made to ensure compliance with tax regulations.
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