Monday, August 19, 2013

You can file your tax return even after the due date

..........So say you are a salaried employee who has not filed his or her return in time, however, the tax due from you has already been deducted at source in the usual course. In this case, the maximum downside even for a late filing would be the Rs. 5,000 penalty amount. Since the tax due from you has already been paid ( by way of the TDS), there would be no liability on account of interest. Remember, interest is levied only if you owe any tax to the government.......

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