Yes, Mukti is right. Interest is charged on filing belated return on the amount of tax liability less TDS less advance tax paid by the assessee. Mr Balu is wrong by not calling it as a belated return. Here no interest will be levied u/s 234A.
Interest under Section 234A
Page no : 2
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 02 April 2009
HEY
SORRY GOT OF CONFUSE AND TOLD LIKE THAT,, BYE MISTAKE I TOLD ITS NOT BELATED, DEPARTMENT SAID WHEN I GONE TO FILING SAID BELATED RETURNS WILL NOT BE ACCEPTED SO FROM THAT GOT CONFUSE AND TOLD YOU LIKE THIS..PLEASE DONT MIND...SORRY
Pranay Shukla
(CA)
(52 Points)
Replied 02 April 2009
Hello All,
A salaried assessee has to file his retrun of income on or before 31 July (U/s.139(1) due date) but if he is unable to file return with in that period he can file return of income after said date which is call belated return( u/s.139(4)). Commenting on Mr.Balu's first answer : A person can file belated return uptill his assessment get over or one year from the end of the assessment year whichever is later . So in above case the time limit wil be not 31st Mar'09 but 31st Mar'10 and as for interest part I will say same that if TDS on salary fully deducted then on interest levied u/s. 234A,B or C.
yogeshsharma5600@gmail.com
(Accounts Controller & Compliance)
(47 Points)
Replied 22 May 2009
I am agree with Bhumika She is right.
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