Interest Archive

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Interest and Penalty on TDS

Section 201(1A) TDS Interest, Section 234E Late Filing Fee, and Section 271H TDS Penalty

If payment of TDS is not made in the specified time or/and return filing of TDS is not complete before the due date then the Income Tax act imposed interest and penalties for the default made by the deductor.
Penalty For Late Filing of ITR

What is the Interest and Penalty for late filing of ITR

For every assessment year, the last date for filing your Income Tax Return is 31st July for the non-audited assessee, and for the audited assessee, the last date is 31st October (Unless Extended). Still, if you are not able to file
Interest under Section 234A, 234B, and 234C

Interest under Section 234A, 234B, and 234C of Income Tax Act, 1961

For Income Tax Return late filing, Advance tax delayed payment and for short-payment of advance tax, there is Interest payable by the assessee, which is chargeable u/s 234A, u/s 234B, and u/s 234C respectively of Income Tax Act.
Advance Tax Payment

Advance Tax Payment- Procedure and Provision

For every financial year, the assessee needs to pay tax in advance if his tax liability is expected to be Rs. 10,000 or more.
Interest and penalties under TDS

Interest penalties for late payment of TDS and late filing of TDS return- New Tax Route

In the last post on TDS, we discussed the due dates for payments of TDS and due dates for the return filing of TDS. If payment of TDS is not made in the specified time or/and return filing of TDS is