Late Filing

rxs · Post by **rxs** » Tue Jul 27, 2010 8:24 pm

I am a US Citizen, who R2Ied in Sept 2009.

I am running late and might miss the July 31st date for filing my India return.

I don't want to rush into filing as it'll take me a little time to collect the needed information. What are the implications of late filing, how late can I file, and what is the fine, etc involved?

dbs · Post by **dbs** » Wed Aug 04, 2010 1:42 am

Relax. It is unlikely to be a huge amount unless you are late in paying your self asessment tax and this amount is large.

Mumbai_2009 · Post by **Mumbai_2009** » Wed Aug 04, 2010 2:31 am

You are not alone , I am late too but I will be filling this month. You got march 31st of next year to file your taxes but there is a fine which increases every month of your late filing. The fine depends on your taxable income. You need to check with your CA for the exact amount. It might not help now but the deadline has been till August 4 th

Mumbai_2009 · Post by **Mumbai_2009** » Wed Aug 04, 2010 8:32 am

The fine of late filing is the percentage of tax returned and not on taxable income as I had posted earlier