Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

Fee u/s 234f

375 views

Save Share

Rupesh Thote

103 Points Posted on 01 January 2021

i am filling itr 1 FY 2019-20 income tax portal asking for 1000 u/s 234c why, income tax filling date has been extended to 10 jan 2021

Replies (3)

Quick Summary

This discussion clarifies the difference between Section 234F and Section 234C of the Income Tax Act. Section 234C levies interest on late payment of income tax, not a penalty for late filing. Section 234F is a penalty for filing late, but it's only applicable if your income is below £500,000 and the due date hasn't been extended. The portal may have shown an error due to software updates, but these charges should not apply if the filing deadline was extended.

CA. Sourav Sarkar

Chartered Accountant

16188 Points Posted on 01 January 2021

You should again file the return freshly

Krishna Chaudhary

Accountant

1331 Points Posted on 02 January 2021

Under section 234 C interest is levied on late payment of income tax. so this is not the penalty for filing the late return but it is an interest on the income tax your thing after due date.

Smit Shah

280 Points Posted on 02 January 2021

234c interest for the A.Y.2020-21 only come when your tax liability after advance tax and TDS/TCS exceeds Rs.1 lac and also 234F penalty if income is below 500000 then levied at Rs.1000 but as due date extended that will not be levied till 10th January or 15th February as the case may be also income tax department is updated software so now this error will not come.