Penalty on late filing of it return

This query is : Resolved

TARIQUE RIZVI (Querist)
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25 June 2018 What will be the consequences If we file IT Return for the Ay 2018-19 after 31st July 2018 ? What is the slab of penalty ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 June 2018 The fee (penalty) will be as follows:

Return is filed on or before 31st December of Assessment Year but after due date
and total Income exceeds Rs. 5 Lakh Rs.5000

Return is filed on or before 31st December of Assessment Year but after due date
and total Income do not exceeds Rs. 5 Lakh Rs. 1000

In any other case Rs.10000