Menu
Fees Under 234F
If my Income is below taxable limit for AY 2019-20 and I file my belated return for the same.Whether I am liable to pay Fees under sec 234F?
Replies (5)
No, If your Income is below exemption limit for AY 2019-20 and you file your belated return now (last date is 30th September, 2020) than you are not liable to pay any late Fees under sec 234F.
But if income is more than basic Exemption limit, than Late fee applicable.
But if income is more than basic Exemption limit, than Late fee applicable.
But as per rules its listed that those below taxable limit files belated return have to pay rs 1000 , It applies to whom?
As per Section 234F
1. if Income below Exemption limit than late fee is ZERO
2. if income more than basic Exemption limit but total income less than 5,00,000 than late fee will be "1000"
3. if total income more than 5,00,000 than late fee will be 5000 / 10,000 as the case may be
1. if Income below Exemption limit than late fee is ZERO
2. if income more than basic Exemption limit but total income less than 5,00,000 than late fee will be "1000"
3. if total income more than 5,00,000 than late fee will be 5000 / 10,000 as the case may be
Thank You very much sir. Actually I got that point what you meant once I have posted that para...Again Thank You very much.
You're most welcome......
Recent Topic
- SBI direct mutual funds ITR
- 44AE Section
- FEMA compliant structure
- Tax obligation in AY 2026-27
- EFILING ITR2 FROM COMMON FILING UTILITY
- SBI gold bond interest
- PPF Interest Exempt - But what drop down to choose
- Itr2 or itr3 intraday trade 1 loss of 70 paise
- Calculation of IT
- CA FINAL FR IndAS 33 Doubt(Corrected)
Related Topics
CAclubindia
