Belated Return - Income Tax fully paid on Time

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  1. AKD

    AKD Member

    Tax is fully paid as below by a sr citizen individual having income only from pension and interest.
    1. Advance tax in three installments by 15 September, 15 December and 15 March
    2. TDS by bank as and when interest paid and
    3. Self assessment tax before 31 July
    but return is filed after due date, i.e,31 July but before next 31 March, i.e, before expiry of relevant AY.
    Will the above case attract any fine or penalty
    and if, there is any refund for over payment, will it be allowed?
  2. Dinesh Kumar

    Dinesh Kumar Member

    what is deduction under section 80 ddb and 80 u
  3. Neha Sharma

    Neha Sharma Active Member

    Dear @AKD

    1. As all taxes have been duly paid - No Interest/Penalty would be levied for late filing of Income Tax Return

    2. In case of Belated Returns, Income Tax Refund would be given to you.

    Please Note that Belated Returns cannot be revised once submitted.
    j_srikumar likes this.
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