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applicability of sec 234f

Anonymous (Ca Final student) (32 Points)

10 July 2018

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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RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 10 July 2018

Originally posted by : Anonymous
	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.

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ANIL KUMAR KHETAN (PROPRIETOR) (542 Points)
Replied 11 July 2018

Not applicable, you are not required file income tax return, but file voluntary.

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 11 July 2018

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...

CS Advocate Abhishek Goyal (M Com FCS LLB M-AIMA ) (13954 Points)
Replied 28 November 2018

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).