Delay in filing return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2011 Hi,

If my salary is taxable and my employer has deducted the tax payable on my salary as well in time (before the closure of the respective financial year) for Ass. year 2010-11 & 2011-12 but, i failed to file return before due date.

However, if I file my returns on 02 Aug 2011 for both years, then, will I have to pay any interest u/s 234 and penalty seperately..

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
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31 July 2011 For 2010-11, yes you have to pay the interest separately for late filing of return. You have to also pay penalty of Rs. 5000 as your return is filed after 31/03/2011.

For AY 2011-12, you are under no obligation to file your return if your salary is below 5 lakhs and the employer has dedcuted TDS on the same.