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applicability of sec 234f
If any person files his return after due date u/s 139 (1) but on VOLUNTARY BASIS i. e. his GTI is less than Basic exemption limit.. Then is he still required to pay late fees?
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| Originally posted by : Anonymous | ||
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If any person files his return after due date u/s 139 (1) but on VOLUNTARY BASIS i. e. his GTI is less than Basic exemption limit.. Then is he still required to pay late fees? |  |
Yes... Applicable.
Not applicable, you are not required file income tax return, but file voluntary.
Mr. ANIL KUMAR KHETAN., FILING NOT REQUIRED AS PER INCOME IF LESS THAN BASIC EXEMPTION LIMIT... BUT, ASSESSEE WILL BE FILE HIS RETURN AND AFTER 31ST JULY THEN THE SEC IS APPLICABLE AS PER THE LIMIT OF LESS THAN 5LAKH...
No late fees will be paid if income declared is below exemption limit i.e. Rs 2.50 lakh. This is because such a person is not required to file his return u/s 139(1) and as per section 234F, late fees is leviable on late filing of return in cases where a person was mandatorily required to file income return as per section 139(1).
No late fee under 234F as GTI is less than BEL 250000/-
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