Interest & late fee

This query is : Resolved

RASH BIHARI JHA (Querist)
Follow

23 June 2014 Sir,
Feb2014 - S.tax Rs 9600
march14---S.taxRs 6400

we have no paid tax and return till date
please
1)interest ..?
2)late fee for return..?

Nischit Sanghavi

Nischit Sanghavi (Expert)
Follow

24 June 2014 Interest would be leviable @1.5% p.m.
So, For the month of February, you would file in March. So interest for not payment would be charged for March to June i.e.4 Months. So, it would be Rs.9600*1.5%*4 = Rs.576/- and Rs.6400*1.5%*3 = Rs.288/-.

For Late filling of Return:-

For delay upto 15 days - Rs.500 per day
For delay beyond 15 days upto 30 days - Rs.1000 per day
For delay beyond 30 days Rs.1000 + Rs.100 for each day, upto Maximum of Rs.20000/-