For AY 2014-15 - my Net Income was 3.25 Lacs & the tax Payable 10200, I paid Tax on 29 Feb 2016.- 10200 + Interest 2600 = 12800.
Question
1. Can I file my IT Return now ?
2. Is the interest calculation OK ?
Thanks
amit (Accountant) (96 Points)
22 March 2016For AY 2014-15 - my Net Income was 3.25 Lacs & the tax Payable 10200, I paid Tax on 29 Feb 2016.- 10200 + Interest 2600 = 12800.
Question
1. Can I file my IT Return now ?
2. Is the interest calculation OK ?
Thanks
CA PRATIK DHRUVE
(CHARTERED ACCOUNTANT)
(634 Points)
Replied 22 March 2016
Return can be filed by 31st March 2016.
Vikas Gupta
(Tax Executive)
(530 Points)
Replied 22 March 2016
You can file your ITR for AY 2014-15 upto 31/03/2016. If you are a resident individual not being a senior citizen
Tax liability on Rs. 3,25,000/- = Rs. 10815/- (Not Rs. 10200/-)
Interest on it, if you file it on 23/03/16 (tomorrow) = Rs. 4938/- (Not Rs. 2600/-)
You may calculate the same as per following link --
https://www.incometaxindia.gov.in/pages/tools/income-tax-calculator-234abc.aspx
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961