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ITR

Ashwini (private job) (176 Points)

16 February 2017

If i filing my return late.. Than how much penalty interedst should i pay... Please tell me about interest % with section..

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185411 Points)
Replied 16 February 2017

Which Assessment year? Generally penalty not be paid unless ordered by AO. For Interest u/s. 234A, 234B, or 234C applicability refer article: /articles/interest-u-s-234a-234b-and-234c-15276.asp

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Anup Koshy (CA Finalist) (104 Points)
Replied 16 February 2017

You are not required to pay any interest unless assesing officer ask you to do so.And max penalty he can levy is Rs.5000.But generally it is not levied.

I request you to kindly file a belated return u/s 139(4) and dont worry about it.

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manoj (student) (5205 Points)
Replied 16 February 2017

plz mention which assessment year you are asking for

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Ashwini (private job) (176 Points)
Replied 16 February 2017

AY 2014-15 and 2015-16

Ashwini (private job) (176 Points)
Replied 16 February 2017

And i have one more doubt... If a person not liable to pay tax in AY 2015-16... But he is filing nill return.. Than what he should pay penalty or not...?