Hi Experts,
I am a salaried employee and plan to file e-returns. However I realised that I have not declared interest income to my employer for AY 2011-12. While calculating tax, I realize that Ihave to pay an excess tax of Rs.1,077.
I am yet to file the return and will do that before the due date of 31July 2011.
My query is that:
1. Can I directly deposit the due tax of Rs.1077 or should I add any kind of penalty or surcharge while depositing the additional tax? If yes, how is surcharge calculated?
2. If I deposit only the required amount, i.e., Rs.1077, will be receive any notice u/S 221 (1) ?
Thanks in advance.
Abhay