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Fees Under 234F

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20 Points Posted on 16 September 2020
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?
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On 16 September 2020 at 21:27 Report
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Tax and Business Consultant
11616 Points Posted on 16 September 2020
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.
66 Reply
On 16 September 2020 at 21:37
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20 Points Posted on 16 September 2020
But as per rules its listed that those below taxable limit files belated return have to pay rs 1000 , It applies to whom?
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On 16 September 2020 at 21:39
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Tax and Business Consultant
11616 Points Posted on 16 September 2020
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
66 Reply
On 16 September 2020 at 22:23
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20 Points Posted on 16 September 2020
Thank You very much sir. Actually I got that point what you meant once I have posted that para...Again Thank You very much.
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On 16 September 2020 at 22:26
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Tax and Business Consultant
11616 Points Posted on 16 September 2020
You're most welcome......
66 Reply
On 16 September 2020 at 22:34


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