Roi

This query is : Resolved

anshulgoel (Querist)
Follow

01 October 2011 please tell me that on not filing ROI on either 30th sep. or 31st july..,the following consequences happen:::

1) loss of that particular year is not carried forward
2) if tax is payable then interest is charged
3) if refund is to be claimed then also interest is charged
4) deduction from GTI can not be claimed

So....., under what sections deduction is not allowed

Please answer me in detail....!!!

Preety Parik

Preety Parik (Expert)
Follow

01 October 2011 1) Consq 1 in the querry - correct
2) Consq 2 - correct
3) consq 3- wrong, if refund due, no int charged ( however if there is int u/s 234C, the same will apply)
4) consq4- wrong. Deduction under Chapter VIA can be claimed.