I have to file income tax return for ay 2011-12 & 2012-13 & also want to pay self assessment tax for these 2 AYs near about 30000 in ay 2011-12 & 80000 in 2012-13. what will be the consequences of late payment of self assessment tax & filling return. please guide me in detail
You can file your Return for F.Y_2010-12 & 2011-12 without any panelty.
Only Interest you have to pay u/s234A.
For F.Y_2010-11 = Interest should be paid for 18Month
For F.Y_2011-12 = Interest should be paid for 6Month.
Regards,
RAJESH CHOUDHARY
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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