siji (sadgfdgf) (28 Points)
08 July 2009I have worked in two different companies and i havn't paid my tax adding my previous companies income as i havn't declared it so the TDS is not considering all the income(ie's from both comapnies). Now i have to pay tax for the whole taxable income , I have some doubts please clarify and guide me
a)How and where to pay the tax considering all the taxable income
b) I f I want to pay the tax late, that is in this year later, is it possible if so what is the penaly if any & how to do it
CA Navin Jain
(MANAGER (FINANCE & ACCOUNTS))
(11768 Points)
Replied 08 July 2009
Hello
If you will file the return before 31.07.2009 then paid the self assessment tax on the whole income. if your tax liability comes more than Rs. 5000 then you shall be liable to pay interest u/s 234B AND 234C.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 08 July 2009
The due date for your return is 31.07.2009. Make computation of total income from all sources and calculate the tax and if tax payable is more than Rs. 5,000/- interest u/s 234B & 234C is applicable.
praveen
(Chartered Accountant)
(6971 Points)
Replied 09 July 2009
hey i have a format for calculating interest .
CA Shailesh +91 9393926464
(Chartered Accountant)
(2088 Points)
Replied 09 July 2009
a)How and where to pay the tax considering all the taxable income?
Ans: U have to file the appropriate return within the due date( 31-07-2009) to the Jurisdicational AO. Or else u can also efile it and send the ack to bangalore.
b) I f I want to pay the tax late, that is in this year later, is it possible if so what is the penaly if any & how to do it ?
Ans: Yes. It is possible. But, u have to pay the tax with interest component as per sections 234A, 234B and 234C
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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