Interest calculation and penalty on tax for for f.y 2011-12
This query is : Resolved
08 September 2014
Dear Concern,
My query is that if I have filed a revised return for F.Y 2011-12 on 26.10.2013 with tax payable of around 4.50 lac which is yet not paid till date. Now if the company wants to pay the same, what would be the interest and penalty applicable on the same?
Awaiting for a early response by experts.
Thanks,
Varsha
My query is that if I have filed a revised return for F.Y 2011-12 on 26.10.2013 with tax payable of around 4.50 lac which is yet not paid till date. Now if the company wants to pay the same, what would be the interest and penalty applicable on the same?
Awaiting for a early response by experts.
Thanks,
Varsha
08 September 2014
Ms. Varsha,
The interest on tax would be applicable from he date of filing of original return and not from the date of filing of revised return
The interest on tax would be applicable from he date of filing of original return and not from the date of filing of revised return
08 September 2014
Tax as per original return was Nil.
In revised return, tax is calculated on MAT basis.Further the amount of Rs 4.50 includes interest u/s 234A/B/C.
So now, if interest is charged u/s 234A/b/c, then will the return again be revised?
Any other penalty or interest applicable?
In revised return, tax is calculated on MAT basis.Further the amount of Rs 4.50 includes interest u/s 234A/B/C.
So now, if interest is charged u/s 234A/b/c, then will the return again be revised?
Any other penalty or interest applicable?
08 September 2014
Yes you have to revise the return. no other penalty would be leviable
08 September 2014
ACCORDING TO ME , PLS REFER TO SEC 139 (9), YOUR RETURN IS DEFECTIVE RETURN AND WITHOUT PAYMENT OF TAX , IT WILL DEEMED AS NEVER FILED . THE ONLY REMEDY IS , IF THE AO ISSUES A NOTICE , SPECIFYING THE DEFECT , THEN YOU CAN FILE THE RETURN WITH TAX AND INTT. AND IT WILL BE TREATED AS BELATED RETURN .
08 September 2014
What if the client has received no notice till date and wants to pay the same suo moto?
08 September 2014
PLS GO THROUGH SEC 139 (9) . AND THAN GIVE ME A MESSAGE
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