Belated return

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can i file a belated income tax return to claim refund for fy 2018-19.
does it attracts interest under 234A or 234F.
Replies (6)
You can file belated return upto 31.3.2000

You can surely claim TDS and get the refund.

No late fee under 234F as your income is < basic threshold 2.50 lakhs

No 234A as refund case

1. Belated return for the FY 2018-19 can be filed up to 31.03.2020 as per sec 139(4). 
2. If the total income does not exceed Rs. 5 lakhs then the penalty will be Rs. 1,000. Otherwise, penalty of Rs. 5,000 if the return was filed before 31.03.2019 and after that penalty will be Rs. 10,000. Penalty u/s 234F will be payable irrespective of your income. 
3. It is prudent to argue that if income is below Rs. 250000, then there is no need for filing the ROI and if there is no liability to file there is no question of sec 234F. But there is no express provision which states that income below Rs. 2,50,000 will be excluded from penalty u/s 234F. 
3. However, in the case of refund, interest u/s 234A will not be payable.  
Please correct me if the above solution has an alternative view. 

There will be no late filing fees to be levied as mentioned under section 234F of the income tax return filed after the deadline if the gross total income does not exceed the basic exemption limit
@ Mr Suresh Thiyagarajan

1. Belated return for the FY 2018-19 can be filed up to 31.03.2020 as per sec 139(4). 

 

2. If the total income does not exceed Rs. 5 lakhs then the penalty will be Rs. 1,000. Otherwise, penalty of Rs. 5,000 if the return was filed before 31.03.2019 and after that penalty will be Rs. 10,000. Penalty u/s 234F will be payable irrespective of your income. 

3. It is prudent to argue that if income is below Rs. 250000, then there is no need for filing the ROI and if there is no liability to file there is no question of sec 234F. But there is no express provision which states that income below Rs. 2,50,000 will be excluded from penalty u/s 234F. 

3. However, in the case of refund, interest u/s 234A will not be payable.  
Please correct me if the above solution has an alternative view. 

Please reply the highlighted points :

What about the date notified by You? Are You consider the ITR AY 2018-19? (point no 2)

What about if my business T/O 30 lakhs but GTI not exceeds BEL? (point no 3 (3.1))

Originally posted by : Gokul s nair
There will be no late filing fees to be levied as mentioned under section 234F of the income tax return filed after the deadline if the gross total income does not exceed the basic exemption limit

 

Yeah, You are exactly correct Mr Gokul S nair.

 

If Your gross Total Income less than 2.5 lakhs then sec 234F not applicable for filing u/s 139(4).

I mistakenly mentioned the date as 31.03.2019, It should have been 31.12.2019. If the return is filed before 31.12.2019 then the penalty will be Rs. 5,000. After that date and before 31.03.2020 penalty will be Rs. 10,000. I hope it's clear now.


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