what tax for late pament for A.y 2005-2006?

Answer 1

If you not submitted your IT return for Assessement Year 05-06 then you have an option to submitte your IT return as soon possible . If your taxable liabilities is nil for A.Y 2005-06 then you can fill up form 2D and submitte without Interest or Penalty. If You have tax liabilities then calculate Tax with Surcharges + Education cess , After calculated your Tax liabilities you should calculate Interest on your Tax liabilities with 1 % monthly from 1st April 2005 and Deposite Amount in HDFC Bank. Income Tax department will Penalty if you could'ot given more sutaible Answer for it reason why did you not submitted your IT Return with listed date decided by Income tax Department. It listed date are for Individuals 30 June end of Financial year from 1st April to 31st March. 31 st October for Company , Partnership firm & Individuals whose tax audit liabilities.

Answer 2

Late payment cover in 3 sections of Income tax .

First 234 A Its for filing late from the due date. for example for individuals 31st July 2005 is due date - For today you pay 20months x 1% interest for your total tax ( tax, surcharge & Educational cess)
Second 234 B - Its for tax not paid with in the financial year end. It calculation starts from 1st April, 2005 - 24 months x 1% for your total tax
Thirtd 234 c - Its for not paying advance taxes.
This interest is calculated only if your total tax is higer than Rs.5,000/-
You should paid off 30 % with in 15th September 2004
60 % with in 15 th December 2004 &
Balance with in 15 th March, 2005 if not you
Calculation - 30% of total taxes x 3% +
60% of total taxes x 3 % +
100% of Total taxes x 1%

You should pay late payment 234 A+ 234B +234C along with your total tax(Tax+surcharge & Educational cess)

Answer 3

Nothing.
Interest for late payment of tax.
Penalty for late submission of return of income for AY 2005-06. Must submit return of FY 2004-05 and 2005-06 before 31st March.