Is there any charges or penalty for late filing of income tax return.?
CA Manish K Dhoot (CA, B. Com, NCFM, CPCM) (5015 Points)
12 December 2008Is there any charges or penalty for late filing of income tax return.?
madhur gupta
(student/article )
(1022 Points)
Replied 12 December 2008
yes u have to pay interest under sec.234a,b,c
n if ur liable for audit then .5% of turnover or rs.100000 whichever is lower
rest confirm it from ur c.a.also
srilakshmi
(ca final)
(369 Points)
Replied 09 January 2009
234A is applicable for the late filling of return
1% for every month or part of the month from the due date of the filing the return to the date when it is actually filed