Belated ITR filing penalty

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18 Points Posted on 30 November 2023
Is penalty (of ₹1K or ₹5K depending on IT slab) applicable for belated ITR filing of an audited individual, even if the advance income tax is paid or not?
plz clarify.
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On 30 November 2023 at 16:03 Report
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Quick Summary
This discussion clarifies the penalty applicable for belated Income Tax Return (ITR) filings for audited individuals in India. The penalty of ₹1,000 or ₹5,000, depending on the income slab, applies regardless of whether advance income tax has been paid or not. This rule holds true even for individuals requiring an audit.

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CA
1251 Points Posted on 30 November 2023

Yes, it is for audited persons also.

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On 30 November 2023 at 18:01
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Profession
28271 Points Posted on 01 December 2023
Please explain briefly..
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On 01 December 2023 at 11:35

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