What if you miss IT return filing deadline of September

Those who have a tax due in their return – If you have tax payable for income earned in the financial year 2014-15, besides having to pay interest under section 234B and 234C, you’ll also have to pay interest under section 234A. Section 234A is applicable for default in filing your return timely. It is calculated on the tax which is unpaid and is calculated starting from the due date. Days are rounded off to a month and interest @ 1% is payable. Though if there’s no tax due in your return, no interest under section 234A is charged for returns filed after due date

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  • Capital losses cannot be carried forward – Capital losses are allowed to be
    adjusted against your capital gains income. While long term losses can only
    be set off only against long term gains, short term losses can be set off
    against both long term and short term capital gains. If you have not been
    able to set off your entire capital loss in the same year, both short term
    and long term loss can be carried forward for eight assessment years
    following the year in which the loss was first incurred.
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  • u can file your income tax return
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  • How to getting a job in sap fico consultants...
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