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Income tax related

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301 Points Posted on 01 September 2019

can late fees of Rs 5000 be applicable to Nil return... if filled after 31 Aug 2019.

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On 01 September 2019 at 15:27 Report
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17264 Points Posted on 01 September 2019
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.
101 Reply
On 01 September 2019 at 15:41
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taxpracticing
269 Points Posted on 01 September 2019
no dear...... I think late fee shall be applicable for all taxpayers including who file nil return also..... please make sure
6 Reply
On 01 September 2019 at 17:04
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"Do the Right Thing...!!!"
128147 Points Posted on 01 September 2019
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...
463 Reply
On 01 September 2019 at 17:08
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Income & Corporate Tax Lawyer
383 Points Posted on 01 September 2019
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.
5 Reply
On 01 September 2019 at 21:25
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12244 Points Posted on 01 September 2019
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
35 Reply
On 01 September 2019 at 22:59
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1167 Points Posted on 01 September 2019
income up to 5 lacs then late fee only 1000
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On 01 September 2019 at 23:25
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17264 Points Posted on 03 September 2019
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
101 Reply
On 03 September 2019 at 01:20


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