First Time ITR with 5000 penalty

Late filed.....income  above 5 lakh....then penalty of 5000/- as per act

Pay the penalty through online to the income tax department's website. File your ITR if not done for the relevant assessment year. 

Check for any other demands.

Penalyy not required.

Itr u provisions are there. If the income is taxable in that particular assessment year then tax needs to be paid.

Late fee notice of Rs 5,000 on a first-time ITR:

• The 234F late fee is Rs 5,000, or Rs 1,000 if total income doesn't exceed Rs 5 lakh. If your income is below the basic exemption limit (not required to file under 139(1)), no late fee applies at all. Recompute and pay only what's due; if the system charged Rs 5,000 wrongly, file rectification.

If the notice is valid and the ₹5,000 is correctly computed, pay it by the due date stated and retain the challan. For a late return, this is usually the late-filing fee under section 234F, not a separate penalty: it is generally ₹5,000, reduced to ₹1,000 where total income does not exceed ₹5 lakh. Check the notice’s section, assessment year, amount and demand details against your return and Form 26AS/AIS; if the demand is wrong or already paid, respond through the e-filing portal’s e-Pay Tax / Response to Outstanding Demand facility with the relevant evidence.

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