I had not filed my income tax return for the asst.year 2009-2010. I received news from the my friend it is that file the pending return before the 31st oct 2009 otherwise I am liable for penlaty of Rs.5000/- for non filing of income tax return.
But as per my knowledge I can file my return upto 31.03.2010 without penlty only I have to pay interest u/s 234a. Its true.
Please help me for this issue.
Regards
Mahendra Lad
Ya your right, you can file still march 2010 there is no penalty, only you have to pay interest 234 A.If your tax liability is 5k and more then you have to pay 234 A,B & C all section interest 1% for month....Nothing like that 5k penalty...
u r right
you file your returan 2010 and u pay interest as per sec 234 A is 1% and u file after 2010 then u pay penalty u/d 234B 5000rs
CAclubindia
