interest payable for late filing of itr

Meghna (Gujarat ) (15 Points)

10 September 2017

plz explain the provision

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Kiran. S (CTO) (745 Points)
Replied 10 September 2017

which AY?

Meghna (Gujarat ) (15 Points)
Replied 10 September 2017

17-18

Kiran. S (CTO) (745 Points)
Replied 10 September 2017

no penalty. File return. After 1st April 2018 fine at the discretion of AO

Ashiwini Ballodia (Managing Partner at TAXounting) (8737 Points)
Replied 10 September 2017

AY 17-18 i.e FY 16-17 interest to be paid @ 1% for each month delay from the due date of filling the return

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 10 September 2017

If you ll be file your ITR for AY 17-18 as late filing then you ll be pay interest 1% fir every delayed months....

Pushpak Lal (Student CA Final ) (286 Points)
Replied 10 September 2017

https://cleartax.in/s/interest-imposed-by-income-tax-department-under-section-234a

Refer this website. You will be full clear on it.

Kiran. S (CTO) (745 Points)
Replied 11 September 2017

1% is for interest. Penalty for late filing will be compulsary from AY 18-19

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