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Late Fee Income tax

478 views 8 replies

Jayaram

Senior Finance Officer

398 Points Joined December 2016

My Gross income is less than 5 lakh . if I file return after 1st Jan 2019 what is the penalty?

Replies (8)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210800 Points Joined July 2016

If the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.

CA. Kailash Vaishnav

Practicing CA

51 Points Joined December 2017

If you are filing your return after 31.12.2018, the late fees will be Rs 10000/- irresepective of your Total Income.

Aman Kumar

Accounts Executive

749 Points Joined December 2018

1000 late fees before 31 Dec 2018,after you filled itr,so 10000 late fees.

Sanjanaa Mehta

7 Points Joined November 2018

if net income is less than 5 lakhs & you file after 31.12.2018 the penalty amount will be Rs. 1000/-

Rupesh Raut

ARTICAL ASSISTANT

28 Points Joined March 2016

As per Section 234F of Income tax Act, Late fees for filling of Incme Tax return shall be depends on the Net Income of the Assessee, If Net Income of the Assessee is Less than the Rs. 5,00,000/- then Penalty of Rs 1000 shall be levied otherwise Penalty shall be Rs.10,000/-

Balram Choudhary

Sr. Accountant

112 Points Joined June 2009

Dear jayaram

Penalty for late filling of ITR for Fy 2017-18

if income is less than 5 lakh - 1000/- either filled your return upto december 31 for march 2019

if income is greater than 5 lakh then penalty is
Rs.5000/- if filled before december 2018. and

Rs.10000/- if filled before marcha 2019

manoj

student

5205 Points Joined February 2009

Penalty for late filling of ITR for Fy 2017-18 if income is less than 5 lakh - 1000/- either filled your return upto December 31 or march 2019 if income is greater than 5 lakh then penalty is Rs.5000/- if filled before December 2018. and Rs.10000/- if filled After December 2018