If an individual file a loss return with a delay. Is fees under sec 234F applicable for him?? As he is incurring losses and do not require to file return u/s 139(1).
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Fees for late filing u/s 234F
Replies (5)
In case of loss, 234F will not be applicable.
234F is applicable only if there is a tax liability.
And in order to carry forward the loss, you need to file within due date.
234F is applicable only if there is a tax liability.
And in order to carry forward the loss, you need to file within due date.
Hi! thanks for the answer.
Just one more thing. Would your answer be different if Assessing officer disallows some expenses under PGBP and my income exceeds the exemption limit afterwards. Will he raise demand after considering fees under 234F.
Just one more thing. Would your answer be different if Assessing officer disallows some expenses under PGBP and my income exceeds the exemption limit afterwards. Will he raise demand after considering fees under 234F.
Fees u/s 234F is applicable only for original return if filed after due date. For revised return and demand notice by assessing officer, fess u/s 234F won't be applicable.
Yes if the income exceeds above exemption limit, demand will be made by assessing officer but that won't include fee u/s 234F.
Yes if the income exceeds above exemption limit, demand will be made by assessing officer but that won't include fee u/s 234F.
Sorry for the different view...
As per above query 1st of the query is not cleared and no more clarity in that query...
But,
As per sec 234F if Gross Total Income exceeding BEL then it's levied after filing due date...
As per above query 1st of the query is not cleared and no more clarity in that query...
But,
As per sec 234F if Gross Total Income exceeding BEL then it's levied after filing due date...
PLEASE NOTE 😊
CBDT has further extended the due date of filing ITR till 5th September.
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