can late fees of Rs 5000 be applicable to Nil return... if filled after 31 Aug 2019.
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Income tax related
Replies (7)
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions.
Gross total income means income before chapter VA deductions.
no dear...... I think late fee shall be applicable for all taxpayers including who file nil return also..... please make sure
Late Fee applicable based on "Taxable Income"s value. It's not consider Nil Return or Payment return.
So, Show/Say Your incomes details as per Computation @ Naresh Khanduri...
So, Show/Say Your incomes details as per Computation @ Naresh Khanduri...
There is no late fee for those taxpayers who file their return under basic limit means below 2.5L The late fee will only levy when you cross the basic limit.
if you don't have taxable income then there's no late fees, but if your total income exceeds 2.5 l but below 5 l, then you need to pay minimum 1000 as late fee
income up to 5 lacs then late fee only 1000
Repeating ....
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions
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