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» » What are the Penalties on late filing of Income Tax for AY 2014-15(FY 2013-14)



If your not filing your tax returns before 31/07/2014 for AY 2014-15 ( FY 2013-14)you will be penalized as follows

1. Interest u/s 234A @ 1% is levied on tax payable on late filing.



2. Losses incurred during the FY 2013-14 can't be carried forwarded on late filing.


3. We cant revise the returns which are filed late.


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