Aviator (Officer) (26 Points)
30 July 2009Hi!
I failed to file my ITR for the assessment year 2007-08(FY 2006-07).
But I still have my form 16 and I have no dues to pay. I am salaried and I only have my TDS to declare. I have no dues to pay as tax.
Deatails as per my form 16:
Total Tax on Taxable Income: 547387
Total Tax deducted at source: 547387
But, when I fill in the ITR form, I am asked to fill in 234A/B/C. Can anyone help me with the amount I need to pay as fine for late filing the same.
Much appreciate the reply.
Thanks.
C.Balaji
(Learner)
(1867 Points)
Replied 01 August 2009
hello friend, according to me..... you are supposed to file your return before 31.03.2009 as belated return... belated return should be filed within one year from the end of relevant A.Y....i.e. 07-08 in your case.... relating to 234A interest, there is no need to pay interest as your entire tax has already been deducted at source and you have no tax liability.....234A interest is normally calculated as under: =tax payable*no of months after 31.7.*1%
C.Balaji
(Learner)
(1867 Points)
Replied 04 August 2009
hi friend, you can now file the return...... no tax liability so no 234a........ some penalty may be levied but you can file the return without problems.....
CAclubindia
