is it penalty for late filing of return by e-filing ? because i have filed the return yesterday night but the site is not responding hence my return is submitted late by 1st April,2008?
1 Replies
CA H M JOHARI
(CHARTERED ACCOUNTANT)
(191 Points)
Replied 01 April 2008
YES
If total income is above Rs. 1.00 Lacs and tax is payable/paid/tds dedcuted than the Rs. 5000/- penality appliacable. moreover in the case of Corporate assessee and firms penality is applicable
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