Please tell me what are the consequences if Income tax return is not file within 30th September 2013. for the F.Y 2012-13 of a Partnership Firm.
Is there any penalty also applicable.
Thank u
kavitha
(B.Com)
(53 Points)
Replied 12 September 2013
If return is filed after due date Interest u/s 234A will be imposed.
Penalty of Rs. 5000/- will be charged if the return is submitted after the end of assessment year.
Further if a loss return is submitted after the due date few losses cannot be carried forward
sanjay singhal
(CA)
(987 Points)
Replied 12 September 2013
Further
1. Belated returns can not be revised.
C.A. Mikil vora
(ca )
(28 Points)
Replied 13 September 2013
Please tell me an individual having Flat rent expenses of Rs. 7,00,000 can be allowed him in his personal return?
kavitha
(B.Com)
(53 Points)
Replied 13 September 2013
Rent expenses are allowed as deductions subject to certain conditions
Fllow this link https://gsoftnet.blogspot.in/2012/10/how-to-deduct-rent-from-salary-by.html
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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