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Fee u/s 234 F for AY 2018-19 ?

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prakash mohite

1 Points Posted on 17 March 2021

what is the fee u/s 234F for AY 2018-19 if return is filed on 14/11/2018?

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Quick Summary

This discussion clarifies the fee applicable under Section 234F of the Income Tax Act for the Assessment Year 2018-19. If an income tax return is filed between 1st August and 31st December 2018, a penalty of INR 5,000 is applicable. Filing after 31st December incurs a higher penalty of INR 10,000.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 17 March 2021

You will end up paying penalty on delay filing of income tax return, should you miss the deadline. As per the Section 234F of income tax any taxpayer who does not file their tax returns by the 31st of July but does so before the 31st of December would end up paying as much as INR 5,000 as fines.

As per Section 234F penalty after December stands at INR 10,000