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234F, 234A for the revised return in AY 2020-21

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Narayanan Kuppuraj

2 Points Posted on 23 March 2021

For the Assessment year 2020-21, i filed the income tax return well on time as below.

1st October 2020: Filed the original return
18th Feb 2021: The IT department sent an email stating that its defective
15th March 2021 : I filed the revised return by paying the Additional taxes
22nd march 2021: I received a tax demand notice to pay the penaly of 10k(Section 234A, 234F).

As i filed the original return well in time in october 2020 before the due date(10/1/2021), my CA suggested that i dont need to pay the late filing penalty (234F) of 10k and we filed the revised return on 15th march 2021. Now IT department sent a Tax demand notice to pay the 10k penalty.

My CA says that we don't need to pay as the status of the rectified return is in "Successfully e-verified" and not says that "ITR Processed". I'm confused if i need to pay the penalty or its an error from the IT department automatic processing

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Quick Summary

This discussion addresses a query regarding penalties under sections 234A and 234F for a revised Income Tax Return (ITR) filed for Assessment Year 2020-21. The user filed their original return on time but received a defective notice. After filing a revised return and paying additional taxes, they received a demand notice for a penalty. Their CA advised that the penalty might not be applicable as the original return was filed before the due date and the revised return is e-verified, not yet processed.