Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Filing itr for last year

Shri (M.Com) (129 Points)

05 May 2016

hello,

I had to file ITR and pay tax for Financial year 2014-2015(April 1st 2014 - March 31st 2015). However for so many reasons i could not file it. Can i file it now? I need to pay a tax of around 40k.

Thanks

Reply
Follow
Share

3 Replies

sushil kumar ( CA Final-Audit Assistant) (528 Points)
Replied 05 May 2016

You can file your itr for the financial year 2014-15 till 31st March 2017 however penalty of Rs 5000 may be initiated by the department.

Upgrade to CAclubindia Pro. Subscribe Now!

Vikas Gupta (Tax Executive) (530 Points)
Replied 06 May 2016

Agree with Mr. Sushil Kumar. You may file your ITR for 2014-15 till 31st Mar, 2017. You would have to pay interest u/s 234A, 234B & 234C along with tax amount. You should deposit tax as early as possible so that you may bear lesser interest.