Savings bank interest
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2016
Did not add savings bank interest while filing IT return for FY, 14-15,
If I submit a revised return with Savings Bank interest added now, will there be penalty, if yes how much.
if there is some tax liability after adding the savings bank interest after deduction of 10000 on account to 80TTA, If I pay the remaining tax , what other penalties would be there apart from interest on account of 234A
If I submit a revised return with Savings Bank interest added now, will there be penalty, if yes how much.
if there is some tax liability after adding the savings bank interest after deduction of 10000 on account to 80TTA, If I pay the remaining tax , what other penalties would be there apart from interest on account of 234A
25 May 2016
No penalty will be levied on you but interest on tax as aplicable under 234A,23B,234C would be applicable
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25 May 2016
penality not levied only intt. you have to deposit. u/s 234A. 234B& 234C
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25 May 2016
If a return is revised under section 139(5), interest under section 234A cannot be levied on differential tax.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
25 May 2016
so does it means only I have to pay 234B and 234C interest and not 23A ?
28 May 2016
yes. only 234a and 234b will b applicable. please note that 234a in for not filing of income tax return within due date.
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