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?
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?
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 .
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